At three in the morning, the stock market is closed, but your Coinbase shares keep moving. Starting November 23, that becomes real—and that’s where the risks begin.
OKXICE, a joint venture between OKX and ICE, which owns the NYSE, is opening a tokenized stock venue. More than 70 assets: Coinbase, Circle, Strategy, Robinhood, and 59 Direxion ETFs. Each token is backed one-to-one by actual U.S. shares, complete with dividends and voting rights. Liquidity comes from Uniswap v4 AMM pools on X Layer.
What made me stop reading was its legal status. The venue operates under a temporary Innovation Exemption. It states that it is not registered as an exchange or broker-dealer, and has not been approved by the SEC.
You get access around the clock, with no closing bell. You also get round-the-clock risk, with no break to think. To me, that’s a cost you need to be aware of before you click buy, not afterward.
Follow @paksambo_ for breakdowns of market structures like this.
OKXICE, a joint venture between OKX and ICE, which owns the NYSE, is opening a tokenized stock venue. More than 70 assets: Coinbase, Circle, Strategy, Robinhood, and 59 Direxion ETFs. Each token is backed one-to-one by actual U.S. shares, complete with dividends and voting rights. Liquidity comes from Uniswap v4 AMM pools on X Layer.
What made me stop reading was its legal status. The venue operates under a temporary Innovation Exemption. It states that it is not registered as an exchange or broker-dealer, and has not been approved by the SEC.
You get access around the clock, with no closing bell. You also get round-the-clock risk, with no break to think. To me, that’s a cost you need to be aware of before you click buy, not afterward.
Follow @paksambo_ for breakdowns of market structures like this.
