OKX and the Intercontinental Exchange have appointed Andrew Cuomo to co-chair a token business that will give users access to ICE futures and NYSE-linked digital currencies.
Summary
- OKX and ICE have appointed Andrew Cuomo to participate in a new venture focused on tokenized financial products.
- The proposed platform will give OKX users access to the ICE futures and NYSE-linked token markets, subject to approval.
- This announcement comes as institutions increase efforts to create tokens, with Citigroup pointing out that the market could reach $8.2 trillion by 2030.
According to a joint announcement on June 22 issued by OKX and the Intercontinental Exchange (ICE), the companies are creating a business focused on the infrastructure of token and digital financial assets. The project remains subject to regulatory approval.
Under the proposed structure, OKX users will gain access to ICE futures products and token share markets linked to the New York Stock Exchange, which operates under the ownership of ICE.
The companies said the move is aimed at supporting the development of blockchain-based financial products that can connect to established market infrastructure.
Cuomo will serve as chairman of the business. His appointment brings back a political figure who has maintained ties to the crypto sector since joining OKX in 2023.
Traditional currencies and crypto infrastructure are moving closer together
The latest announcement builds on the partnership 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.
In addition to its involvement with OKX, ICE has also increased its exposure to the digital asset markets with a $2 billion investment commitment in the prediction platform Polymarket.
The venture comes as major financial institutions continue to explore tokens. A previous crypto.news report noted that the market for real-world tokenized assets has grown rapidly as banks, exchanges, and asset managers explore blockchain-based versions of traditional financial products.
According to Citigroup, the token asset market could reach $5.5 trillion by 2030 under its baseline forecast. The banking sector projects it could exceed $8.2 trillion before the end of the decade.
Citigroup said tokenization is moving beyond pilot programs and becoming part of mainstream financial infrastructure as regulatory frameworks mature and large institutions incorporate blockchain technology into their operations.
Cuomo is returning to the crypto spotlight after losing the election
The nomination also brings Cuomo back into the public debate following his unsuccessful 2025 campaign for Mayor of New York City.
During that race, Cuomo promised to make New York City the “cryptocurrency capital of the world” and received support from the crypto-focused Innovate NY political committee. Despite that support, Democratic Alliance candidate Zohran Mamdani got more than 50% of the votes and won the election.
Since he took office on Jan. 1, Mamdani has never announced any major plans for cryptocurrency or blockchain related policy. The mayor also confirmed in January that he personally has no 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 scheduled to participate in congressional primaries that will determine candidates for the US House and Senate races in November.
According to public campaign disclosures, crypto-backed political committees, including Fairshake, have continued to spend money on advertising and election efforts to support candidates viewed as favorable to the digital goods industry.
