OKXICE to debut tokenized stocks on 23 November as SEC exemption tested

The planned debut

OKXICE plans to debut tokenized stocks on 23 November, according to a Cointelegraph report published on 11 November. Tokenized stocks are blockchain-based tokens that represent shares in listed companies.

The report says the debut puts a new exemption from the U.S. Securities and Exchange Commission to the test. It does not set out the terms of that exemption, which shares the tokens would cover, or how they would be issued and traded.

Cointelegraph frames the move as running into resistance from established market participants. The excerpt it provides names Nasdaq as one of them.

Nasdaq's position

Nasdaq is pursuing its own tokenized stock plans, according to the report. It has warned that trading the same shares across several platforms could fragment liquidity, meaning the ease with which a stock can be bought or sold without moving its price.

The report does not say what Nasdaq's plans involve, when they might launch, or whether Nasdaq has commented directly on OKXICE's 23 November date.

What is not known

Neither OKXICE nor the SEC is quoted in the excerpt. It is not clear whether the SEC has granted an exemption, is still reviewing the plan, or has taken no position on it.

The details come from a single report and have not been confirmed by the parties involved. No date has been given for a decision or for any response from Nasdaq.