Blab Crypto
Former New York Governor Andrew Cuomo to Co-Chair OKX-ICE Joint Venture Aiming to Bridge Crypto and Traditional Markets
Andrew Cuomo, the former governor of New York, has been named co‑chair of a new joint venture between cryptocurrency exchange OKX and Intercontinental Exchange Inc. (ICE), the parent company of the New York Stock Exchange (NYSE). The partnership, announced Monday, intends to create a U.S.‑registered broker‑dealer and futures commission merchant that would allow OKX to serve U.S. customers and give its overseas users access to ICE futures and NYSE tokenized equities.
Cuomo began advising OKX in 2023, helping the company navigate a federal investigation by the FBI and prosecutors from the Southern District of New York. In 2025 OKX pleaded guilty to charges that it processed more than $1 trillion of U.S. customer transactions without a license and agreed to pay over $504 million in penalties. The former governor’s involvement has been described as a policy‑advisory role.
OKX, founded in 2017 and rebranded from OKEx in 2022, is one of the world’s largest crypto exchanges, with users in more than 100 countries. In early 2024 ICE invested $200 million in OKX, valuing the exchange at $25 billion and securing a board seat. The investment was part of a broader strategy to integrate digital assets into traditional financial infrastructure.
ICE, which owns the NYSE, has been expanding its presence in digital assets. Earlier this year the NYSE announced plans to launch a blockchain‑based venue for trading tokenized stocks and exchange‑traded funds around the clock. The joint venture with OKX follows a trend of crypto firms seeking regulated access to U.S. markets, a path that has been encouraged by recent regulatory developments such as the “Genius Act” for stablecoins.
According to Bloomberg, the joint venture will require regulatory approvals before it can operate as a broker‑dealer and futures commission merchant. If approved, the structure would enable U.S. customers to trade crypto products through OKX under a U.S.‑registered entity, while overseas OKX customers could trade ICE futures and NYSE tokenized equities. Cuomo said, “I think that is going to be a very, very powerful combination,” and added, “I understand the role for government. I understand the role for the private sector. Let the private sector grow, let them innovate, let them find and develop new products.”
At present, the venture is awaiting clearance from U.S. regulators. The partnership signals a continued effort to blend digital and traditional finance, but the exact timeline for launch and the scope of products remain uncertain. Investors and market participants will watch for regulatory decisions and any further announcements from OKX, ICE, or the NYSE that clarify the venture’s operational framework.
Cuomo began advising OKX in 2023, helping the company navigate a federal investigation by the FBI and prosecutors from the Southern District of New York. In 2025 OKX pleaded guilty to charges that it processed more than $1 trillion of U.S. customer transactions without a license and agreed to pay over $504 million in penalties. The former governor’s involvement has been described as a policy‑advisory role.
OKX, founded in 2017 and rebranded from OKEx in 2022, is one of the world’s largest crypto exchanges, with users in more than 100 countries. In early 2024 ICE invested $200 million in OKX, valuing the exchange at $25 billion and securing a board seat. The investment was part of a broader strategy to integrate digital assets into traditional financial infrastructure.
ICE, which owns the NYSE, has been expanding its presence in digital assets. Earlier this year the NYSE announced plans to launch a blockchain‑based venue for trading tokenized stocks and exchange‑traded funds around the clock. The joint venture with OKX follows a trend of crypto firms seeking regulated access to U.S. markets, a path that has been encouraged by recent regulatory developments such as the “Genius Act” for stablecoins.
According to Bloomberg, the joint venture will require regulatory approvals before it can operate as a broker‑dealer and futures commission merchant. If approved, the structure would enable U.S. customers to trade crypto products through OKX under a U.S.‑registered entity, while overseas OKX customers could trade ICE futures and NYSE tokenized equities. Cuomo said, “I think that is going to be a very, very powerful combination,” and added, “I understand the role for government. I understand the role for the private sector. Let the private sector grow, let them innovate, let them find and develop new products.”
At present, the venture is awaiting clearance from U.S. regulators. The partnership signals a continued effort to blend digital and traditional finance, but the exact timeline for launch and the scope of products remain uncertain. Investors and market participants will watch for regulatory decisions and any further announcements from OKX, ICE, or the NYSE that clarify the venture’s operational framework.
