Overview
- Executives from ICE, OKX, and Securitize told a Consensus Miami audience that many offshore stock tokens use company names without approval and do not confer real equity, risking confusion for retail traders.
- ICE, which owns the NYSE, said its first tokenized equity release will require pre-funded trades against stablecoins so issuers and regulators can review the setup before features like leverage or self-custody are considered.
- ICE has partnered with OKX and selected Securitize as a digital transfer agent to support issuer-backed tokens, with any rollout subject to regulatory approvals.
- OKX said it will not offer synthetic notes that only mirror prices and plans to list tokens backed by the underlying shares once regulated supply exists, saying it wants to sell the asset itself rather than a promise.
- Securitize warned that multiple offshore wrappers for the same stock can diverge in price during corporate actions, citing a case where a token traded at about five times the correct level after a stock split, as the SEC reiterates that true tokenized ownership requires issuer approval and reports highlight roughly $1.3 billion of offshore structured-note supply lacking shareholder rights.