Andrew Cuomo to Co-Chair OKX-ICE Tokenization Venture

Andrew Cuomo will co-chair a joint venture formed by cryptocurrency exchange OKX and the Intercontinental Exchange, the parent company of the New York Stock Exchange, the companies said in an announcement Monday.

The venture will focus on building infrastructure for tokenized and digitally native financial products and, subject to regulatory approval, would enable OKX users to access ICE futures and NYSE tokenized equities markets.

The joint project follows a March agreement in which ICE invested an undisclosed amount in OKX at a reported $25 billion valuation. ICE has also committed funds to other digital-asset platforms, including a previously announced pledge related to prediction markets.

Cuomo served three terms as governor of New York. He began working with OKX in 2023 and ran for New York City mayor in 2025, a race he lost to Zohran Mamdani. Mamdani took office on Jan. 1 and has not announced policies related to crypto; he has said he does not hold digital assets.

The companies did not disclose governance arrangements, the funding split between partners, or a timeline for operations and launches. The announcement did not provide a product roadmap or a schedule for regulatory filings.

Regulatory clearance is required before OKX customers could directly access ICE futures or tokenized equity markets. That process could involve multiple U.S. and international regulators depending on the products and the legal entities that operate them. No timetable for approvals was provided.

Key operational questions remain open. The companies have not detailed custody arrangements for tokenized assets, market surveillance protocols, which assets will be eligible for tokenization, or how order flow would move between a global crypto exchange and regulated U.S. markets.

Cryptocurrency-aligned political action committees have been active in recent primary contests in New York, Utah and Maryland, investing in campaigns ahead of congressional and Senate primaries.

OKX is a large global cryptocurrency exchange that has pursued partnerships and regulatory engagement in recent years. ICE operates major exchanges and clearinghouses, including the New York Stock Exchange and a suite of futures markets. Tokenization refers to representing ownership of assets such as equities, bonds or commodities as digital tokens that can be recorded and traded on digital ledgers.