Intercontinental Exchange, owner of the New York Stock Exchange, and crypto exchange OKX on Monday announced the formation of a joint venture designed to develop infrastructure for tokenized securities and blockchain-based financial products.

The equally owned venture is expected to operate as a regulated US broker-dealer and futures commission merchant once approvals are secured, giving OKX’s global customer base access to the ICE futures markets and tokenized equities linked to the NYSE. The companies also plan to explore additional blockchain-enabled market opportunities.

Former New York Governor Andrew Cuomo will serve as co-chair of the venture. The announcement comes months after ICE disclosed a strategic investment in OKX.

In January, the NYSE and its parent company announced plans to develop a platform for trading and on-chain settlement of tokenized securities, with 24/7 trading, instant settlement, and stablecoin-based funding. The system would support continuous trading, instant settlement, and stablecoin-based funding across multiple blockchain networks, while ensuring tokenized shareholders retain traditional rights such as dividends and governance participation.

The initiative is part of ICE’s strategy to move trading, custody, and settlement infrastructure onto blockchain rails. It also involves collaboration with major financial institutions, including BNY and Citi, to support tokenized deposit systems and liquidity infrastructure.