More than 60 U.S. stocks including Nvidia and Tesla are headed onchain. Here’s how it works — SkimNews
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- OKXICE, a joint venture between crypto exchange OKX and NYSE-owner Intercontinental Exchange, filed to list 60+ tokenized U.S. stocks including Nvidia, Tesla, Apple, Microsoft, Amazon, Alphabet, JPMorgan, Goldman Sachs, Walmart, Netflix, Reddit and Boeing, plus crypto-linked Coinbase, Circle, Robinhood, Strategy and Securitize.
- Each stock token would be backed one-for-one by an underlying share held by a registered broker-dealer, with holders entitled to dividends and voting rights, per the regulatory filing.
- Investors would trade against blockchain-based liquidity pools (automated market makers) using stablecoins USDC, USDT and USDG, rather than a traditional order book, on OKX's XLayer chain using Uniswap infrastructure.
- The market would operate 24/7 including nights and weekends, with prices set by pool dynamics rather than the latest Nasdaq quote — meaning an investor could buy tokenized Nvidia on a Sunday afternoon.
- Inclusion is not guaranteed: companies have a 30-day objection window, and Cerebras has already opted out, TD Securities noted, cautioning that "no symbol is a given."
- TD Securities called the venue of "limited near-term relevance" for institutional investors, citing weak corporate appetite, the 5-year (not permanent) SEC relief, and the open question of whether off-hours prices will track traditional exchanges.
Why it matters: This filing turns a 5-year SEC relief window into a live test of whether tokenized Nvidia and Tesla can hold price parity with Nasdaq overnight and on weekends. TD Securities expects "limited near-term relevance" for institutional players, and a 30-day corporate veto window already trimmed the list — Cerebras opted out — meaning the headline 60+ count is a ceiling, not a launch roster.
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