New York Stock Exchange Owner Values Crypto Exchange OKX at $25 Billion in New Partnership

According to CoinDesk, global trading giant Intercontinental Exchange (ICE) began a strategic partnership with cryptocurrency trading firm OKX to introduce tokenized stocks and crypto futures products. ICE, the owner of the New York Stock Exchange, also made a strategic investment valuing the San Jose, California-based company at $25 billion, according to a press release. The terms of the investment were not disclosed. The deal is not ICE's first foray into crypto trading platforms. It is a long-time backer of digital asset firm Bakkt (BKKT) and, more recently, invested $2 billion in crypto-powered prediction market Polymarket, valuing the platform at up to $10 billion.