Former New York Governor Andrew Cuomo will co-chair a new joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), the parent of the NYSE. The venture aims to build infrastructure for tokenized financial products, pending regulatory approval.
This collaboration signifies a major traditional financial institution, ICE, deepening its involvement in the digital asset space through a partnership with a prominent crypto exchange, OKX, and leveraging the political profile of Andrew Cuomo to navigate regulatory landscapes.
Former New York Governor Andrew Cuomo is set to co-chair a new joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. The venture, focused on developing infrastructure for tokenized financial products, will allow OKX users access to ICE futures and NYSE tokenized equities markets.
Cuomo, who has been working with OKX since 2023, will co-chair the project, which is contingent on regulatory approvals. He stated that the "next chapter of financial markets will be defined by how well innovation and government regulation can move forward together" and expressed excitement about blockchain technology's potential for democratizing finance.
This initiative follows ICE's investment in OKX earlier this year, where the NYSE parent acquired a minority stake in the international crypto exchange at a $25 billion valuation. Trabue Bland, senior vice president for futures exchanges at ICE, noted that the joint venture is a step towards building the infrastructure that will define global markets in the coming decades.