NYSE parent ICE invests in crypto exchange OKX at $25 billion valuation amid tokenized stocks push

Intercontinental Exchange, the parent company of the New York Stock Exchange, has invested in crypto exchange OKX at a $25 billion valuation as part of a broader effort to bring traditional securities onto blockchain-based trading rails.

The investment will give ICE a seat on OKX’s board, though the financial terms of the deal were not disclosed, the crypto exchange announced Thursday. Executives from both companies reportedly said the partnership reflects a shared view that tokenized financial assets will play a growing role in global markets.

Tokenization trend

A central piece of the collaboration involves integrating traditional equities with crypto infrastructure. Under the arrangement, Intercontinental Exchange will license OKX’s spot cryptocurrency price data to support the launch of U.S.-regulated crypto futures products, while the exchange plans to offer its roughly 120 million users access to ICE’s U.S. futures markets and tokenized equities tied to listings on the New York Stock Exchange.

Tokenization refers to the process of representing financial assets such as equities on blockchain networks, a structure proponents say could reduce trading costs and enable round-the-clock global access to markets.

The investment signals a deepening relationship between traditional financial market operators and digital asset firms as trading habits shift toward blockchain-based infrastructure.

"This investment is not an endpoint — it is the beginning of a deeper collaboration," said Star Xu, OKX founder and CEO. OKB, the exchange's native token, surged over 36% following the update, per The Block's OKB price page.

Intercontinental Exchange has already taken several steps in that direction. In October, The Block reported that the exchange operator lined up a $2 billion investment in the prediction market platform Polymarket, in a deal that valued the startup at roughly $9 billion at the time.

Updated to include OKB price surge and quote from OKX founder and CEO, Star Xu.