OKB token surges 38% after OKX secures $25B strategic investment

Intercontinental Exchange, the parent of the New York Stock Exchange, has invested in crypto exchange OKX in a deal valuing the platform at $25 billion. Under the agreement, OKX plans to offer trading in tokenized versions of NYSE-listed stocks and derivatives starting in the second half of 2026. A specific launch date has not been set.

Market reaction followed the announcement. OKX’s utility token, OKB, climbed more than 38% to about $106.70 on the news, becoming one of the best performing asset over the past day. The token is now trading at around $93, according to market data.

The partnership aims to make traditional financial instruments available on a crypto-native venue through tokenization, which converts assets into digital tokens that can be traded on a blockchain. OKX users would be able to buy and sell digital representations of stocks and derivatives tied to listings on the NYSE.

ICE and the NYSE have been developing tokenization capabilities. In January, the NYSE announced work on a blockchain-based trading platform for tokenized securities. In February, NYSE President Lynn Martin stated that the exchange “felt the responsibility to enter into the tokenization conversation,” citing growing interest in digital formats of traditional assets.

Michael Blaugrund, vice president of strategic initiatives at Intercontinental Exchange, characterized the NYSE effort and the work with OKX as “complementary projects, but they’re not a single project.”

OKX executives presented the investment as part of a broader plan to link digital assets with established markets. Haider Rafique, global managing partner of corporate affairs at OKX, highlighted shared views on the future of tokenized securities and derivatives, adding, “There was great chemistry in how we looked at the world and the future of tokenized securities, how derivatives should make it to the global stage, how TradFi and digital assets should merge together.”

OKX has been expanding its U.S. presence. The exchange relaunched its U.S. platform in April 2025 after a $500 million settlement with the Department of Justice and a guilty plea to charges that included serving U.S. customers without a money transmitter license and failing to comply with anti-money-laundering laws. At the time, the company indicated it would pair product development with compliance commitments.

Further details on product design, investor access, and jurisdictions for the tokenized offerings are expected closer to launch. While the NYSE’s in-house tokenized securities platform and the integration with OKX are on separate tracks, both efforts are being developed to support digital formats linked to traditional markets.

As we covered previously, OKX launched a Mastercard crypto card in the European Economic Area, enabling stablecoin payments at any Mastercard-accepting merchant with no transaction or FX fees and instant conversion to euros at checkout at a 0.4% market spread, while assets stay in self-custody until execution. The partnership with Mastercard has been expanding since spring to broaden OKX’s product offerings and co-develop digital asset solutions.