Morning Minute: The NYSE Just Bought Into A Major Crypto Exchange
Intercontinental Exchange (ICE), parent of the New York Stock Exchange, has invested in crypto exchange OKX at a $25 billion valuation and will join OKX’s board. The investment amount is undisclosed. Alongside this, ICE is developing a separate blockchain-based trading platform that will use stablecoins for on-chain settlement and allow round-the-clock trading. OKX’s token, OKB, surged over 38% following the announcement, building on its recent growth after a major token burn. OKX plans to relocate up to 2,000 employees to the US. The move follows other significant TradFi steps into crypto, such as Kraken obtaining a Federal Reserve master account. For OKX users, the partnership will enable direct access to tokenized NYSE stocks and derivatives from within their crypto wallet. The deal strengthens OKX’s case for a future US IPO and signals accelerating integration between traditional finance and crypto, with established institutions seeking access to crypto-native applications.
