OKB jumps 50% as NYSE owner Intercontinental Exchange backs OKX at $25B valuation
OKB, the native token of crypto exchange OKX, jumped around 50% today following the news that Intercontinental Exchange, the publicly traded parent company of the New York Stock Exchange, has made a strategic investment in the platform, Fortune reported.
According to CoinMarketCap data, OKB rose from $78 to about $118 shortly after the announcement. The token's 24-hour trading volume increased by more than 1,000%.
The jump represents one of OKB's one-day moves where the token rose 170% on the Tokinomics update.
The deal, the result of a meeting last summer between OKX CEO Haider Rafique and NYSE Chairman Jeffrey Sprecher, values the exchange at $25. billion and It includes a large board seat for business.
Under the partnership, OKX will offer ICE at a crypto price Foods and It plans to allow its users to trade tokenized stocks and derivatives listed on the NYSE, a feature expected to launch on the NYSE. Second half of 2026. The financial terms of the investment are not disclosed.
The move reflects a growing effort by traditional financial firms to expand blockchain-based markets.
ICE has invested in the Polymarket prediction market and is building infrastructure for tokenized securities. MoonPay, a crypto payments company, is also being considered for investment by the Wall Street giant, Bloomberg reported last December.
Meanwhile, OKX is looking to expand its US presence following a recent settlement with the Department of Justice.
Disclosure: This article was edited by Vivian Nguyen. See our Editorial Policy for more information on how we create and review content.
