Three Companies Plan to Operate Tokenized Securities Trading Venues Under SEC Innovation Exemption

The U.S. Securities and Exchange Commission (SEC) has announced that three companies have notified it of their plans to operate tokenized securities trading venues (TSVs) under the new innovation exemption policy. TSV LLC is held by Ali Abrar and Ryan Trinkle, co-founders of Obsidian Systems, with Trinkle also serving as a board member of the Canton Foundation. The platform plans to operate on the Canton Network. OKXICE is a joint venture between OKX and ICE Markets, intending to operate on OKX's Ethereum Layer 2 network, X Layer. Kephas Corp., a U.S. subsidiary of Perpetuals.com led by founder @PGruhnPDC, who previously served as head of FTX Europe, plans to operate on the public, permissionless Layer 2 network, Kronos X Public, which adopts a licensed trading pool. The SEC stated that being listed does not imply that the companies have met the conditions for the innovation exemption.