InterContinental Exchange (ICE), the parent company of the New York Stock Exchange, and cryptocurrency exchange OKX, have launched a joint venture that will serve as a US regulated broker-dealer and futures commission trader.
Former New York Governor Andrew Cuomo will co-chair the project.
The project will allow OKX clients in the United States and globally access ICE futures and stock token markets planned for the New York Stock Exchange.
Cuomo will share the role of president with Trabo Bland, senior vice president of futures exchanges at ICE.
He has advised OKX on policy matters since 2022, including during the exchange’s $504 million settlement with the Department of Justice over anti-money laundering violations, according to Bloomberg.
According to Cuomo:
“The next chapter of financial markets will be determined by how innovation and government regulation can move forward together. This partnership combines OKX’s world-class blockchain technology with ICE’s trusted market infrastructure to help build a more modern, transparent and resilient financial system for the future.”
According to Bland:
“ICE’s global standards and regulated market technology have earned the trust of institutions and traders everywhere, and now, through our partnership with OKX, we are expanding that access to OKX’s 120 million retail traders.”
The joint venture builds on ICE’s $25 billion strategic investment in OKX announced in March, and is part of a broader cryptocurrency infrastructure push that included ICE’s investment of about $2 billion in prediction market Polymarket and its participation in Arc’s $222 million pre-sale of stablecoin platform Circle alongside BlackRock and Apollo.
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