Key Takeaways
- • Intercontinental Exchange (NYSE: ICE) made a strategic investment in OKX at a reported $25 billion valuation, with terms not disclosed, announced March 5, 2026 per an ICE press release.
- • ICE will license OKX's spot crypto prices and launch U.S.-regulated crypto futures contracts tied to those markets, giving institutions a compliant route to digital asset exposure.
- • The 50-50 joint venture, OKXICE, is building a U.S. broker-dealer and FCM to route OKX's customers, subject to regulatory approval, into ICE futures and NYSE tokenized equities.
- • OKXICE has filed with the SEC for 24/7 onchain trading of more than 60 tokenized U.S. stocks, according to multiple reports.
- • ICE expects the minority stake to have no material impact on its 2026 financial results or capital return plans.
Summary
Intercontinental Exchange, the parent of the New York Stock Exchange, announced a strategic relationship and minority investment in OKX, a blockchain technology and trading company serving more than 120 million users globally. According to ICE's March 5, 2026 press release, the investment reflects a $25 billion valuation of OKX; the terms were not disclosed. ICE will take a board seat on OKX's Board of Directors.
The companies said they intend to evaluate joint initiatives across market structure design, clearing and risk management, data, and institutional access to digital assets. Specific proposals include ICE licensing OKX's spot crypto prices to launch U.S.-regulated crypto futures, and, subject to regulatory approval, OKX providing its customer base access to ICE's U.S. futures and NYSE tokenized equities markets. The relationship also aims to advance clearing and risk management, multi-chain custody and wallet architecture.
The partnership has since taken organizational form. Multiple reports describe OKXICE, a 50-50 joint venture between ICE and OKX, co-chaired by former New York Governor Andrew Cuomo. Per reports, the venture plans to build a U.S. broker-dealer and futures commission merchant (FCM) to route OKX customers into ICE futures and NYSE tokenized equities. OKXICE has also notified the SEC of a venue for 24/7 onchain trading of more than 60 tokenized U.S. stocks.
Jeffrey C. Sprecher, ICE Chair and CEO, said the relationship would expand global retail access to ICE's markets and accelerate plans to offer on-chain infrastructure and tokenized assets to U.S. investors. Star Xu, OKX Founder and CEO, said the collaboration would help build a market structure bridging digital assets and equities that meets institutional standards for risk and compliance. ICE stated its minority position is not expected to have a material impact on its 2026 financial results or capital return plans. Source details for the SEC filing and the Cuomo co-chairmanship are drawn from secondary reports rather than the primary release.
The companies said they intend to evaluate joint initiatives across market structure design, clearing and risk management, data, and institutional access to digital assets. Specific proposals include ICE licensing OKX's spot crypto prices to launch U.S.-regulated crypto futures, and, subject to regulatory approval, OKX providing its customer base access to ICE's U.S. futures and NYSE tokenized equities markets. The relationship also aims to advance clearing and risk management, multi-chain custody and wallet architecture.
The partnership has since taken organizational form. Multiple reports describe OKXICE, a 50-50 joint venture between ICE and OKX, co-chaired by former New York Governor Andrew Cuomo. Per reports, the venture plans to build a U.S. broker-dealer and futures commission merchant (FCM) to route OKX customers into ICE futures and NYSE tokenized equities. OKXICE has also notified the SEC of a venue for 24/7 onchain trading of more than 60 tokenized U.S. stocks.
Jeffrey C. Sprecher, ICE Chair and CEO, said the relationship would expand global retail access to ICE's markets and accelerate plans to offer on-chain infrastructure and tokenized assets to U.S. investors. Star Xu, OKX Founder and CEO, said the collaboration would help build a market structure bridging digital assets and equities that meets institutional standards for risk and compliance. ICE stated its minority position is not expected to have a material impact on its 2026 financial results or capital return plans. Source details for the SEC filing and the Cuomo co-chairmanship are drawn from secondary reports rather than the primary release.
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