Cuomo will co-chair the venture with ICE's Trabue Bland. The entity needs SEC and CFTC approval for its broker-dealer and FCM registrations. ICE invested in OKX in March at a $25B valuation.
Alpha Score of 52 reflects moderate overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
OKX appointed former New York Governor Andrew Cuomo to its board and announced a 50-50 joint venture with Intercontinental Exchange to tokenize NYSE-listed equities, the companies said on June 22.
Cuomo will co-chair the venture with Trabue Bland, a senior vice president at ICE. The entity plans to register as a US broker-dealer and futures commission merchant. That would give OKX customers access to ICE futures products and tokenized equities once regulators approve.
ICE invested in OKX in March, valuing the exchange at $25 billion, the companies said. Cuomo had been advising OKX since 2023. An OKX affiliate paid over $500 million in penalties to resolve a US criminal investigation during that period, the company said.
The venture's stated goal is to "democratize finance through blockchain technology targeting underserved populations," according to the statement.
ICE, which owns the New York Stock Exchange, carries an Alpha Score of 41 out of 100 from AlphaScala, a Mixed label.
Regulatory approvals for the broker-dealer and FCM registrations are still pending. The SEC and CFTC will review the applications. No timeline for the approvals has been set.
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