Three businesses have informed the U.S. Securities and Exchange Commission of their intentions to run tokenized securities marketplaces under a newly introduced rule, according to the principal regulatory agency.
The SEC announced on Wednesday that Tokenized Stock Venue, Perpetuals.com, and OKX have each submitted proposals to launch platforms that support the trading of tokenized equities.
Alongside the Intercontinental Exchange, cryptocurrency platform OKX led the initial filings with the regulator to introduce tokenized securities trading via a new venue named OKXICE.
In September, the SEC announced a five-year exemption for platforms that enable tokenized stock trading. Regulators are advancing their oversight of the cryptocurrency sector despite congressional lawmakers stalling significant digital asset legislation in September.
Tokenized equities represent the newest trend of corporations seeking to leverage Bitcoin’s foundational technology to modernize conventional financial systems. Supporters note that recording stocks on the blockchain allows participants to execute trades around the clock.
The SEC clarified on Wednesday that inclusion on this roster does not automatically guarantee that these organizations satisfy every condition outlined in the rule.
Following the return of U.S. President Donald Trump, the premier Wall Street regulator has adopted a heavily pro-crypto stance. SEC Chair Paul Atkins stated that the agency aims to reform its oversight of securities and “modernize them in the age of blockchain and crypto assets.”
Atkins has expressed the agency’s goal to position the United States on a path toward becoming the “crypto capital of the world.”
During the earlier administration of Democrat Joe Biden, the SEC maintained an antagonistic approach toward the digital asset sector, filing lawsuits against prominent firms such as Coinbase and Kraken while facing backlash for what critics called regulation by enforcement.
However, the dynamic shifted under Trump, who ran on a pro-crypto platform and has since signed various executive orders and laws designed to support the digital asset industry.
For years, legacy financial giants including Franklin Templeton and BlackRock have utilized blockchain infrastructure to tokenize money market funds.
In January, the S&P 500 authorized cryptocurrency platform Trade[XYZ] to launch a novel derivative contract on the decentralized exchange Hyperliquid, granting traders 24/7 access to trade the stock index.
Frequently Asked Questions
How many companies have notified the SEC regarding tokenized stocks?
Three companies—Tokenized Stock Venue, Perpetuals.com, and OKX—have notified the SEC of their plans to operate tokenized securities venues.
What is the duration of the exemption offered by the SEC for tokenized stock platforms?
The SEC is offering a five-year exemption to platforms that facilitate the trading of tokenized stocks.
Who is the current SEC Chair supporting blockchain modernization?
SEC Chair Paul Atkins has stated the agency wants to modernize securities oversight in the age of blockchain and crypto assets.
Did inclusion on the SEC notification list mean the companies met all rule requirements?
No, the SEC stated that simply being on the list does not automatically mean the firms meet all the requirements for the rule.
