OKX and Intercontinental Exchange have appointed Andrew Cuomo to co-chair a tokenization venture that would give users access to ICE futures and NYSE-linked digital equities.
Summary
- OKX and ICE have appointed Andrew Cuomo to co-chair a new venture focused on tokenized financial products.
- The proposed platform would give OKX users access to ICE futures and NYSE-linked tokenized equity markets, subject to approval.
- The announcement comes as institutions expand tokenization efforts, with Citigroup projecting the market could reach $8.2 trillion by 2030.
According to a joint June 22 announcement released by OKX and Intercontinental Exchange (ICE), the companies are forming a venture focused on infrastructure for tokenized and digitally native financial assets. The project remains subject to regulatory approval.
Under the proposed structure, OKX users would gain access to ICE futures products and tokenized equity markets connected to the New York Stock Exchange, which operates under ICE ownership.
The companies said the initiative is intended to support the development of blockchain-based financial products that can interact with established market infrastructure.
Cuomo will serve as co-chair of the venture. His appointment brings back a political figure who has maintained ties to the crypto sector since joining OKX in 2023.
Traditional finance and crypto infrastructure move closer together
The latest announcement builds on a relationship established earlier this year. In March, ICE disclosed a strategic partnership with OKX and invested an undisclosed amount in the exchange at a reported $25 billion valuation.
Beyond its involvement with OKX, ICE has also increased its exposure to digital asset markets through a $2 billion investment commitment to prediction platform Polymarket.
The venture arrives as large financial institutions continue exploring tokenization. Earlier reporting by crypto.news noted that the market for tokenized real-world assets has expanded rapidly as banks, exchanges, and asset managers test blockchain-based versions of traditional financial products.
According to Citigroup, the tokenized asset market could reach $5.5 trillion by 2030 under its base-case forecast. The bank’s bullish scenario projects the sector could exceed $8.2 trillion before the end of the decade.
Citigroup stated that tokenization is progressing beyond pilot programs and becoming part of mainstream financial infrastructure as regulatory frameworks mature and major institutions integrate blockchain technology into their operations.
Cuomo returns to crypto spotlight after election defeat
The appointment also places Cuomo back in the public conversation following his unsuccessful 2025 campaign for New York City mayor.
During that race, Cuomo pledged to make New York City the “global capital for cryptocurrency” and received backing from the crypto-focused Innovate NY political action committee. Despite that support, Democratic candidate Zohran Mamdani secured more than 50% of the vote and won the election.
Since taking office on Jan. 1, Mamdani has not announced major cryptocurrency or blockchain-related policy initiatives. The mayor also confirmed in January that he does not personally hold digital assets.
Meanwhile, political activity tied to the crypto industry continues ahead of the 2026 election cycle. On June 24, voters in New York, Utah, and Maryland are set to participate in congressional primaries that will determine candidates for U.S. House and Senate races in November.
According to public campaign disclosures, crypto-backed political action committees, including Fairshake, have continued spending on advertising and election efforts to support candidates viewed as favorable to the digital asset industry.
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