NYSE Owner Joins OKX to Launch Tokenized Stocks | CoinDesk Daily

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The NYSE's owner wants to bring tokenized stocks onshore, and Ether outperformed Bitcoin in Q3. This is CoinDesk Daily.

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Okxice, a joint venture between crypto exchange Okx and NYSE parent Intercontinental Exchange, has told the SEC it plans to launch a tokenized stock trading venue. The venue will start with more than 60 companies listed on US exchanges. Former New York Governor Andrew Cuomo, the venture's co-chair, announced the move on X. It builds on a new SEC rule. Last month, the agency issued an innovation exemption that lets qualifying venues trade tokenize US stocks using automated market makers and liquidity pools. Ether had a better third quarter than Bitcoin, but its market liquidity got thinner. The token's price jumped 70% in the quarter, but its median daily market depth was just 35% to 45% of Bitcoins, according to CoinGecko. That undercuts a popular idea in markets that rising prices will pull in more traders and deeper order books, with Ether, it didn't happen. And Zcash has activated its NU7 upgrade on a public test network, cutting the targeted weight between batches of transactions from 75 seconds to 25 FasterBlocks could shorten the weight for a merchant to accept a payment or an exchange to credit a deposit. Developers reviewed the test results October 20th with the November 5th rollout as the target. Get more updates on coindesk.com. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com/thestack.

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