Intercontinental Exchange (NYSE: ICE) and OKX, a global blockchain technology company, today announced the formation of a joint venture to build next-generation infrastructure for tokenized and digital-native financial products. The venture is equally owned (50/50) by both parties.
ICE is a leading global provider of financial market technology and data services, driving capital markets worldwide. OKX serves over 120 million users globally and is one of the largest blockchain technology companies. This partnership represents a deep integration between traditional finance and the digital asset space.
Upon receipt of relevant regulatory approvals, the joint venture is expected to operate as a U.S. registered broker-dealer and futures commission merchant (FCM), allowing OKX users in the U.S. and abroad to access ICE futures markets and the New York Stock Exchange (NYSE) tokenized equities market. The venture will also explore blockchain-enabled, compliant adjacent market opportunities.
The joint venture will be co-chaired by ICE and former New York Governor Andrew M. Cuomo. Cuomo served as the 56th Governor of New York, New York State Attorney General, and U.S. Secretary of Housing and Urban Development. He has been working with OKX since 2023.
Cuomo commented: "The next chapter of financial markets will depend on how well innovation and government regulation can work together. This collaboration brings together OKX's world-class blockchain technology and ICE's trusted market infrastructure to help build a more modern, transparent, and resilient future financial system. I am particularly excited about the social impact blockchain technology can bring—democratizing finance and extending basic financial services to underserved populations."
Trabue Bland, Senior Vice President of ICE Futures Exchange business, said: "The ICE-OKX joint venture is a step toward building the infrastructure that global markets will rely on for decades to come. ICE's global benchmark products and regulated market technology are trusted by institutions and traders worldwide. Through this partnership with OKX, we are working to extend that reach to OKX's 120 million retail trading users."
The formation of this joint venture follows ICE's strategic investment in OKX in March of this year. ICE is a Fortune 500 company that designs, builds, and operates digital networks connecting people to opportunities. It provides financial technology and data services across major asset classes. ICE's futures, equity, and options exchanges (including the New York Stock Exchange) and clearing houses serve investment, financing, and risk management needs. ICE also operates the world's leading energy and environmental products trading and clearing markets, with fixed income, data services, and execution businesses providing information, analytics, and platforms.
OKX is a financial technology company known for its global cryptocurrency exchange and on-chain wallet and marketplace. It continuously develops technology and applications to modernize money and markets. As one of the fastest and most reliable crypto and payment apps globally, OKX has processed trillions of dollars in transactions for over 120 million users worldwide. OKX's Americas headquarters is in San Jose, California, its Middle East headquarters in Dubai, and it has regional offices in São Paulo, New York, Hong Kong, Singapore, Turkey, Australia, and Europe. Over the past several years, OKX has become one of the most compliant and licensed crypto companies globally, holding licenses in the U.S., UAE, EEA, Singapore, Australia, and other markets. OKX remains committed to transparency and security, publishing monthly Proof of Reserves reports.