In a significant development for the financial landscape, the Intercontinental Exchange (ICE) announced a partnership with the cryptocurrency trading platform OKX, aimed at creating a new platform for trading tokenized financial products. This collaboration showcases Wall Street’s increasing acceptance of blockchain technology and reflects the evolving relationship between traditional financial infrastructures and crypto platforms.
Pending regulatory approval, the partnership is poised to introduce a “24/7 trading infrastructure” that will enable both companies to offer ICE futures and NYSE-listed equities to OKX’s extensive user base of 120 million customers worldwide. The venture aims to operate as a U.S. registered broker-dealer, and both firms plan to explore complementary opportunities to develop blockchain-powered markets further.
Former New York Governor Andrew Cuomo has been appointed to lead this joint venture. Cuomo expressed enthusiasm about the partnership’s potential, highlighting blockchain technology’s promise to create a more transparent and resilient financial system. His tenure as governor saw the establishment of the Department of Financial Services, a regulatory body overseeing both Wall Street and cryptocurrency activities. Notably, Cuomo resigned from office in 2021 amid allegations of sexual harassment, which he has denied.
Cuomo’s entry into the cryptocurrency space gained media attention during his unsuccessful bid for mayor of New York City last year, especially regarding his advisory role with OKX that began in 2023, coinciding with ongoing federal investigations into the exchange. OKX faced legal challenges, ultimately pleading guilty in 2025 to violating anti-money-laundering laws and incurring more than $500 million in fines for operating in the U.S. without a license. Following this settlement, the platform relaunched its services in the states with substantial backing from ICE, which invested around $200 million at a valuation of $25 billion.
Trabue Bland, ICE’s senior vice president of futures exchanges, will serve as co-chair of the venture alongside Cuomo. Bland indicated that this partnership represents a critical step in constructing the infrastructure necessary to redefine the operation of global markets in the coming decades.
This initiative aligns with broader trends within the financial sector, as other major exchanges, including Nasdaq and the Chicago Mercantile Exchange, are also making strides in integrating blockchain capabilities. Noteworthy developments in this space include the NYSE and the Depository Trust & Clearing Corp’s plans to create blockchain platforms enabling continuous trading and immediate transaction settlement.
This partnership emerges amidst a political landscape where digital assets are gaining bipartisan traction. During the administration of former President Donald Trump, there was a noticeable shift in both political parties toward the acceptance of cryptocurrencies. Under the current federal government, crypto companies are increasingly finding their way into traditional financial frameworks. Recent events, such as Kraken’s access to the Federal Reserve’s payment infrastructure and Congressional initiatives to regulate stablecoins through the GENIUS Act, further underscore this trend. Negotiations are also ongoing regarding the CLARITY Act, a broader cryptocurrency market structure bill facing opposition from banking interests.
