Three companies notified the SEC of plans to launch tokenized stock trading platforms under a new exemption.
The U.S. Securities and Exchange Commission (SEC) has received notices from three firms regarding their intentions to run tokenized securities trading platforms under a recently adopted rule, the regulator stated.
In a Wednesday announcement, the SEC said Tokenized Stock Venue, Perpetuals.com, and OKX each filed plans to launch operations that would permit tokenized stock trading.
OKX, together with the Intercontinental Exchange, became the first to submit a filing with the SEC to introduce tokenized securities trading via a new venue called OKXICE.
In September, the SEC announced a five-year exemption for platforms engaged in tokenized stock trading. The regulator and other agencies are continuing to advance crypto regulation even after lawmakers in September stalled significant digital asset legislation.
Tokenized stocks represent the newest instance of companies seeking to apply Bitcoin's underlying technology to modernize traditional finance. Proponents say that placing stocks on a blockchain allows trading to occur around the clock.
The SEC noted on Wednesday that inclusion on its list does not guarantee that the firms satisfy every condition of the rule.
Under President Donald Trump, Wall Street's chief regulator has adopted a strongly pro-crypto stance. SEC Chair Paul Atkins stated that the agency aims to "update" its oversight of securities and "modernize them in the age of blockchain and crypto assets."
Atkins also said the SEC wants the United States to become the "crypto capital of the world."
During the prior Democratic administration of Joe Biden, the SEC took an adversarial approach toward crypto, filing lawsuits against major firms such as Coinbase and Kraken. The agency faced backlash for what was termed regulation by enforcement.
Under Trump, the situation has shifted: the Republican ran on a platform supporting crypto and has enacted several laws and executive orders designed to assist the digital asset sector.
Major traditional finance players such as BlackRock and Franklin Templeton have utilized blockchain infrastructure to tokenize money market funds for several years.
In January, the S&P 500 authorized crypto platform Trade[XYZ] to launch a new derivative contract on decentralized exchange Hyperliquid, enabling traders to trade the stock index around the clock.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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