In brief
- Intercontinental Exchange, the parent company of the New York Stock Exchange, has invested in crypto exchange OKX.
- The deal values OKX at $25 billion.
- As part of the deal, OXK users will be able to trade tokenized stocks and derivatives listed on the NYSE from late 2026.
The New York Stock Exchange’s parent company has invested in OXK, in a deal that values the crypto exchange at $25 billion.
According to a report in Fortune, the deal will enable OKX users to trade tokenized stocks and derivatives listed on the NYSE, from the latter half of the year.
Haider Rafique, global managing partner of corporate affairs at OKX, told Fortune that there was “great chemistry in how we looked at the world and the future of tokenized securities, how derivatives should make it to the global stage, how TradFi [and] digital assets should merge together,” adding that, “This is not just a very casual investment.”
OKX’s utility token OKB has surged to $106.70 on the news, up more than 38% over the past 24 hours according to CoinGecko data.
The NYSE and crypto
This is the latest move in the New York Stock Exchange’s broader push into crypto. In January, the NYSE announced that it was developing a blockchain-based trading platform for tokenized securities. Speaking to Fortune, Intercontinental Exchange’s vice president of strategic initiatives Michael Blaugrund said that initiative and its partnership with OKX are “complementary projects, but they’re not a single project.”
In February, NYSE President Lynn Martin said that the exchange “felt the responsibility to enter into the tokenization conversation.”
OKX relaunched in the U.S. last April, shortly after reaching a $500 million settlement with the Department of Justice that saw it plead guilty to serving U.S. customers without a money transmitter license, and failing to follow anti-money laundering laws. At the time, the exchange said it continues to “prioritize innovation with compliance.”
According to a June 2025 interview with Rafique, the firm is considering a U.S. IPO as it aims to secure a stronger foothold in the U.S. market.
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