ICE & OKX Are Getting Ready to Drink Coinbase's Tokenized Milkshake

ICE and OKX are preparing to launch OKXICE, a joint venture aimed at bringing ICE futures and NYSE tokenized-equities markets to OKX’s customer base if regulatory approval is granted. The NYSE-listed parent company announced the partnership with global crypto exchange OKX on Monday, following ICE’s March investment in OKX and an earlier “strategic partnership” announcement. ICE said OKX’s valuation was about $25 billion, but financial terms were not disclosed. The 50-50 venture would give OKX’s 120 million customers access to tokenized markets, potentially through a new app or via OKX’s existing platform, and may operate as a U.S. registered broker-dealer and futures commission merchant. The deal is co-chaired by former New York Governor Andrew M. Cuomo and ICE futures exchange executive Trabue Bland, with Cuomo advising OKX since 2022 as a paid policy advisor.