Intercontinental Exchange (ICE) has made a significant move into the world of cryptocurrency by taking an equity stake in OKX, one of the largest crypto exchanges globally. At a valuation of $25 billion, this investment marks a major milestone for both companies.
The partnership between ICE and OKX is expected to enable tokenized NYSE-listed stocks and derivatives trading on OKX by H2 2026. This will allow users to access NYSE-listed securities in a more streamlined and efficient manner. The integration of ICE's Pillar matching engine with blockchain post-trade systems will provide 24/7 operations, instant settlement, dollar-denominated orders, and stablecoin-based funding.
ICE's CEO, Jeff Sprecher, has stated that the company is approaching tokenization as a potential evolution of existing market infrastructure. By routing tokenized NYSE securities through OKX's global user base, ICE gains reach into crypto-native markets that traditional exchange infrastructure cannot easily access. The partnership will also supply ICE with live cryptocurrency price feeds, tightening integration between the two ecosystems.