SEC discloses three firms have applied to run tokenized securities venues under its new innovation exemption.

TSV LLC—backed by Obsidian Systems co-founders Ali Abrar and Ryan Trinkle—will operate on Canton Network. Trinkle sits on Canton Foundation's board.

OKXICE, a joint venture between $OKX and ICE Markets, plans to build on X Layer, OKX's Ethereum Layer 2.

Kephas Corp., the U.S. arm of Perpetuals.com, is led by former FTX Europe head Paul Grühn. It will run on Kronos X Public, a permissionless Layer 2 using permissioned trading pools.

SEC notes inclusion on the list doesn't confirm compliance with exemption requirements.