Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), and OKX, the company behind the centralized crypto exchange, announced a joint venture to develop tokenization and digital asset products. The initiative, subject to regulatory approval, aims to provide OKX's 120 million retail users access to tokenized NYSE equities and ICE futures contracts. The venture will be co-chaired by ICE and former New York Governor Andrew Cuomo, who has advised OKX since 2023. While specific blockchain technologies were not disclosed, a spokesperson told Fortune that the focus will be on tokenizing NYSE-listed equities. This follows ICE's minority investment in OKX earlier this year at a $25 billion valuation. The partnership underscores growing institutional interest in tokenizing traditional assets, potentially bridging crypto and regulated markets. However, regulatory hurdles remain, and the venture's success will depend on compliance and adoption.

Key facts

• ICE, owner of NYSE, forms joint venture with crypto exchange OKX.
• J.V. to focus on tokenization of NYSE equities and ICE futures.
• Subject to regulatory approval; co-chaired by ICE and Andrew Cuomo.
• Follows ICE's $25B valuation minority investment in OKX earlier this year.
• Aims to serve OKX's 120 million retail traders with new products.