Andrew Cuomo to co-chair OKX-ICE tokenization venture

OKX and Intercontinental Exchange have appointed Andrew Cuomo to co-chair a tokenization venture that would give users access to ICE futures products and tokenized equity markets tied to the New York Stock Exchange. The venture is subject to regulatory approval.

The companies announced the plan June 22. The project focuses on infrastructure for tokenized and digitally native financial assets that can interact with traditional market plumbing.

Cuomo joined OKX in 2023. His new role puts a former New York governor at the center of a push to bridge crypto and mainstream finance.

ICE already had ties to OKX. In March, the exchange operator disclosed a strategic partnership with OKX and invested an undisclosed amount in the firm at a reported $25 billion valuation. ICE also committed $2 billion to prediction platform Polymarket.

Large financial institutions are testing tokenization. Citigroup estimates the tokenized asset market could reach $5.5 trillion by 2030 in a base case, and over $8.2 trillion in a bull case. The bank said tokenization is moving beyond pilot programs as institutions adopt blockchain technology, citing regulatory clarity and institutional integration.

Cuomo’s appointment comes after his unsuccessful 2025 campaign for New York City mayor. During the race, he pledged to make the city a global crypto hub. Democratic candidate Zohran Mamdani won the election and has not announced major crypto policy initiatives since taking office.

Political spending tied to crypto continues. On June 24, voters in New York and Utah will participate in congressional primaries. Maryland also holds primaries that day. Crypto-backed PACs have been spending on advertising to support candidates friendly to the industry.

ICE currently carries an Alpha Score of 33 out of 100, labeled Weak by the AlphaScala model.