The SEC listed three tokenized securities platforms as candidates for its innovation exemption: OKXICE TSV, Kephas Corporation, which operates Perpetuals.com, and TSV LLC. However, inclusion does not constitute official qualification or permission to operate, as the platforms must publish a notice at least 30 days before launching and notify the SEC on the next business day. The exemption, adopted on September 17, lasts five years, covers only stocks recorded on a blockchain and caps activity at 0.25%, then 2.5%, of the securities’ average daily trading volume. OKXICE TSV, jointly owned by OKX and Intercontinental Exchange, plans to tokenize 63 NYSE-listed companies, while Perpetuals.com could launch in mid-November at the earliest with USDC liquidity pools on Kronos X. Perpetuals.com reported $65.2 million in assets at the end of April, along with $1.6 million in annual revenue and $17.6 million in losses, while TSV LLC’s executives and shareholders remain unknown.
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