OKXICE has just filed, and now there’s a second: Nasdaq-listed Perpetuals.com (ticker: PDC) today submitted a notice of intent to launch a Tokenized Securities Venue under the SEC’s five-year Innovation Exemption.
The operating entity is its Delaware subsidiary, Kephas Corporation. Trading will take place in permissioned AMM pools, initially on its own Ethereum-compatible L2, Kronos X Public, with tokenized U.S. stocks paired against $USDC. Under the 30-day window following the notice, the earliest launch would likely be around mid-November, pending compliance, market data, and smart contract security reviews.
Unlike the stock tokens back then that offered only price exposure, the framework requires dividends and voting rights to align with those of common stock, and issuers can object within 30 days. CEO Patrick Gruhn previously ran Digital Assets AG, which helped exchanges list tokenized stocks like Tesla and Coinbase. The company was later folded into FTX, where he also served as head of FTX Europe—his résumé is public; we’ll stick to the facts.
The company already has a Cyprus MiFID II-regulated Perpetual Markets MTF in Europe, and obtained MiCA authorization in August; in the U.S., it’s still “notified, but not yet open for trading.” Sources: CoinDesk and the company’s ACCESS Newswire release. Not investment advice.