OKXICE Fixes Nov. 23 Launch While Formation Plans Solana Stock Venue

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Diterbitkan November 11, 2026 - 15:21 UTC | 5 menit membaca

OKXICE Fixes Nov. 23 Launch While Formation Plans Solana Stock Venue

OKXICE, the venture backed by OKX and Intercontinental Exchange, will begin trading tokenized securities on Nov. 23 with more than 70 assets, after objections from issuers. Separately, Formation Securities has told the SEC it plans a Solana venue for early 2027 under the same exemption.

OKXICE confirms a late-November start

The tokenized securities venue OKXICE will start trading on Nov. 23, according to The Block. The outlet said the joint venture announced the date on Wednesday and described the platform as operating under the SEC's innovation exemption.

CoinDesk reported that the venue expects to list more than 70 assets. These include common and preferred shares of Strategy and 59 Direxion ETFs. The outlet's headline also names Coinbase and Circle in connection with the debut, though its summary does not say what form their participation takes.

The Defiant gave the same asset count and the same date. It added that objections from issuers still limit which shares can be tokenized by unaffiliated third parties.

How the SEC exemption gives companies a say

The rules behind both ventures come from a temporary Innovation Exemption that the SEC announced in September, as Cointelegraph explained. It lets verified investors trade certain US-listed shares around the clock. Holders keep voting, dividend and other shareholder rights.

The exemption also gives issuers a procedural lever. Before listing shares that an outside party tokenized without the issuer's involvement, a venue has to send the company written notice and let at least 30 calendar days pass. During that window the company can object. A tokenized share is a blockchain token that represents a stock, so the question of who creates the token and whether the issuer agrees matters as much as the trading technology.

In September, Nasdaq cautioned that trading shares in tokenized form might produce unexpected effects on liquidity, price discovery and the long-term value held by shareholders.

The numbers behind the two announcements

The figures below come from the four outlets and show how far each project has progressed.

Nov. 23: the date OKXICE says trading begins.
More than 70 assets: the expected opening list, according to CoinDesk and The Defiant.
59 Direxion ETFs: the largest named group in that list.
More than 50 companies: the number that had objected to having shares tokenized on OKXICE as of early November, per Cointelegraph.
At least 30 calendar days: the minimum waiting period after written notice for shares tokenized by unaffiliated third parties.
Early 2027: the planned launch window for Formation Securities' Solana venue.

Formation brings an AMM design to Solana

Formation Securities is a newly established company that licenses technology from the decentralized exchange Orca, Cointelegraph reported. It said on Monday that it had notified the SEC of its plan. Tokenized shares of Galaxy Digital, Exodus Movement and Forward Industries are expected at launch, and Superstate and Securitize are expected to supply tokenized shares.

The venue would use automated market maker technology. Under the design, investors would keep custody of the securities in personal wallets, with trades settled onchain in stablecoins or other eligible assets. Conventional transfer agents would remain responsible for the official shareholder records, which keeps each company's direct relationship with its holders intact. Formation says it wants to build the marketplace in cooperation with public companies, an approach that contrasts with the objections OKXICE has faced.

Solana already has a sizable tokenized equity market. RWA.xyz data cited by Cointelegraph put it at about $575 million as of Monday, against $747 million on Ethereum and $1.7 billion on BNB Chain. DefiLlama separately lists Solana's DeFi TVL at $5.08 billion, a different measure that covers all DeFi activity. Readers following the chain can browse new Solana listings on Coinvote.

Where the outlets' accounts differ

The outlets stress different parts of the OKXICE story. The Block focuses on the exemption and the launch date. CoinDesk emphasizes the named issuers and describes the launch as coming after initial issuer pushback. The Defiant frames the same facts the other way, saying objections still constrain third-party tokenization.

Those framings are not necessarily in conflict, but they point in different directions. One treats the pushback as something the venue has moved past. The other treats it as an ongoing limit. The summaries available for these three reports do not say which of the listed assets are affected, and they do not say whether any objecting company is among them.

Timing also matters. Cointelegraph's report is dated Nov. 9, before the launch date was announced. Its count of more than 50 objecting companies reflects early November and may not match the position on Nov. 23.

Why the issuer question matters for token projects and traders

The two ventures show different routes to the same goal. OKXICE is starting with an asset list that includes issuers named in the reports, while Formation says it is designing around company cooperation from the outset. How the SEC exemption works in practice depends on whether companies accept, tolerate or contest tokenization of their shares.

For project teams building tokenization products, the written-notice requirement and the 30-day wait are concrete checks. For traders, the asset list and any later changes to it will show how much of the market depends on issuer consent. These are practical observations drawn from the reported rules, not forecasts.

What to watch before and after Nov. 23

Several questions remain open. It is not yet clear how many of the more than 70 assets involve issuers that took part in the process, or whether any shares from objecting companies will be added later. The final list on launch day will answer part of that.

For Formation, the early 2027 target leaves time for the SEC's temporary exemption and the issuer-notification process to develop. Whether the AMM model can handle regulated shares at scale is also untested in the reporting. Updates from OKXICE and Formation, and any statements from the companies that objected, will show how the two approaches compare.

Market snapshot

Asset	Price	24h	7d	Market cap
Bitcoin (BTC)	$73,552	-1.2%	-6.0%	$1.48 trillion
Ethereum (ETH)	$2,058	-0.8%	-11.3%	$251.56 billion
BNB (BNB)	$680	-1.2%	-2.8%	$89.46 billion

CoinGecko data as of 2026-11-11 (UTC); DeFi TVL from DefiLlama: Solana $5.08 billion.

On Coinvote

New Solana Tokens Listed Today: 3,864 projects tracked, 79 new listings in 7 days, 198 community votes today.
Best Solana Meme Coins Today: 2,522 projects tracked, 57 new listings in 7 days, 100 community votes today.
New Meme Coins Launched Today: 3,864 projects tracked, 128 new listings in 7 days, 128 community votes today.

FAQ

When does OKXICE start trading tokenized stocks?

The venue is set to start trading on Nov. 23, according to The Block and CoinDesk. CoinDesk and The Defiant said it expects to list more than 70 assets, including 59 Direxion ETFs.

Why did companies object to OKXICE?

Cointelegraph reported that more than 50 companies had objected as of early November to having their shares tokenized on the venue. The summaries from the other outlets mention issuer pushback but do not give the companies' reasons.

What is Formation Securities planning on Solana?

Formation plans a tokenized stock venue on Solana in early 2027, under the SEC's temporary Innovation Exemption. It would use automated market maker technology and let investors hold shares in their own wallets, according to Cointelegraph.