ICE Backs OKX at $25B Valuation, Plans NYSE Tokens – Mar 2026

Intercontinental Exchange (ICE), the New York Stock Exchange’s parent, acquired a minority stake in crypto exchange OKX at a $25 billion valuation, according to a March 5 announcement timestamped 08:00 ET (13:00 UTC). The deal adds an ICE board seat at OKX and sets a roadmap toward tokenized NYSE products for OKX’s global customer base, with launch timing reported as H2 2026.

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Context

ICE has been building an on-chain strategy tied directly to NYSE market structure. On Jan. 18, the NYSE said it was developing a tokenized securities platform designed for 24/7 operations and near-instant settlement.

OKX has been repositioning after U.S. enforcement pressure, and major media described a re-entry effort in 2026. Bloomberg reported OKX pleaded guilty to operating an unlicensed money-transmitting business and agreed to roughly $504 million in penalties tied to serving U.S. customers, linked to processing more than $1 trillion in transactions for U.S. customers without proper licensing.

Details

ICE described the transaction as a minority position in the OKX group, without disclosing stake size or the cash amount invested. ICE will gain a seat on OKX’s board of directors as part of the agreement.

ICE also said it will license OKX spot cryptocurrency prices across ICE’s market data and exchange network. ICE framed the broader relationship as a step toward NYSE tokenized equities markets and other on-chain products that sit alongside regulated markets infrastructure.

“We believe that bringing together ICE’s expertise in building transparent, resilient markets with OKX’s innovative digital asset infrastructure will help define how traditional and on-chain assets trade side by side in the years ahead.” – Jeffrey Sprecher, Chair & CEO, Intercontinental Exchange, March 5, 2026.

“Partnering with ICE, the owner of the New York Stock Exchange, is a significant milestone in our journey to become a trusted, regulated venue where institutions and individuals can access both digital assets and tokenized traditional securities.” – Hong Fang, President, OKX, March 5, 2026.

Impact

The $25 billion valuation is one of the largest valuations assigned to a centralized crypto exchange in recent years. ICE’s release also put OKX’s scale at 120 million customer accounts, which becomes the immediate distribution angle for any future tokenized NYSE-linked products.

Market reaction concentrated in OKX’s ecosystem token, OKB, though reported moves varied by snapshot and venue. DLNews reported OKB rose as much as 53% intraday to nearly $118 before trading near $108, while other outlets cited an intraday high near $120 from roughly $77.50, settling near $103–$104.

For exchange-held balances, DeFiLlama’s CEX dashboard showed OKX holding $27.84 billion in total assets, including $12.80 billion on Ethereum and $11.81 billion on Bitcoin (latest snapshot). Those figures describe exchange-held assets rather than DeFi TVL, but they offer a standardized, third-party view of OKX’s current footprint.

Next Steps

Public disclosures stop short of a hard launch date for tokenized equities, but Fortune reported OKX plans to offer tokenized NYSE-listed stocks and derivatives in the latter half of 2026. A translated version of the same report repeated H2 2026 timing, while ICE’s release emphasized tokenized equities markets without locking in a specific date.

ICE and OKX positioned the partnership around combining regulated derivatives infrastructure with crypto market data and distribution. The near-term focus remains integration work, product scope, and sequencing ahead of any tokenized NYSE rollout.

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P.S. This article is for informational purposes only and does not constitute investment advice. Always conduct your own research and make independent decisions.