Three companies have officially notified the U.S. Securities and Exchange Commission of their plans to operate tokenized securities venues following the implementation of a new regulatory framework, according to the nation’s top securities regulator.
Tokenized Stock Venue, Perpetuals.com, and OKX have all submitted operational plans allowing for the trading of tokenized stocks, the SEC announced on Wednesday. Alongside the Intercontinental Exchange, major cryptocurrency exchange OKX was among the first to file with the regulator to debut tokenized securities trading on a newly established platform known as OKXICE.
The developments follow a September announcement by the SEC stating that it would offer a five-year regulatory exemption to platforms facilitating the trading of tokenized stocks. U.S. financial regulators like the SEC are continuing to push ahead with shaping the oversight of the crypto space despite lawmakers in Congress blocking major digital asset legislation during the same month.
Tokenized stocks represent the latest example of financial firms seeking to utilize blockchain technology—originally developed for Bitcoin—to help modernize and upgrade traditional financial infrastructure. By placing stocks on a blockchain network, proponents argue that traders can benefit from continuous, round-the-clock market access, operating seven days a week without the traditional closing bells associated with legacy stock exchanges.
However, the SEC cautioned on Wednesday that the mere inclusion of these firms on the regulatory notification list does not automatically mean they meet all the necessary technical and compliance requirements outlined by the rule.
The filing announcements highlight a dramatic shift in tone at Wall Street’s top regulatory body, which has embraced a distinctly pro-crypto posture under the administration of U.S. President Donald Trump. SEC Chair Paul Atkins has publicly stated that the regulator wants to update how it oversees securities markets and modernize its supervisory frameworks for the age of blockchain technology and crypto assets. Furthermore, Atkins has emphasized that the regulator wants the United States to secure its position as the undisputed crypto capital of the world.
This approach stands in stark contrast to the previous administration under former President Joe Biden, during which the SEC maintained a largely hostile stance toward the digital asset industry. Under the prior leadership, the agency pursued aggressive legal actions, hitting major industry players such as Coinbase and Kraken with high-profile enforcement lawsuits. That era of regulation by enforcement drew widespread criticism from industry advocates and lawmakers alike who argued it created regulatory uncertainty.
The political landscape changed significantly following Donald Trump’s election campaign, which featured strong promises of regulatory support for the domestic crypto sector. Since taking office, the administration has signed a series of executive orders and legislative measures aimed at fostering innovation within the digital asset space.
The push toward tokenized securities on blockchain rails is not entirely unprecedented within traditional finance. Traditional finance titans, including institutional asset management giants BlackRock and Franklin Templeton, have utilized blockchain rails for years to issue and manage tokenized money market funds, slowly bridging the gap between legacy financial products and distributed ledger technology.
The momentum behind round-the-clock asset trading gained additional traction in January when the S&P 500 gave crypto platform Trade[XYZ] the green light to debut a new derivative contract on the decentralized exchange Hyperliquid. That development gave market participants the novel ability to trade the major stock index on a 24-7 basis, further setting the stage for the broader adoption of tokenized asset venues now seeking formal recognition from U.S. regulators.
