ICE partners with tZERO on tokenized securities infrastructure

Intercontinental Exchange and tZERO agreed to collaborate on infrastructure for tokenized securities markets. tZERO will serve as a design partner for ICE's upcoming NYSE-affiliated tokenized securities platform. ICE will invest in tZERO's latest financing round. ICE will license tZERO's blockchain patent portfolio, which includes 103 patents. The patents cover compliant transfers, smart contracts and corporate actions. The firms will explore using tZERO's tokenized assets for collateral management at ICE clearing houses and other affiliates. tZERO CEO Alan Konevsky said the partnership will expand tZERO's regulated tokenized securities platform and related intellectual property to public equities. ICE Vice President of Strategic Initiatives Michael Blaugrund said tZERO's regulated on-chain infrastructure experience supports ICE's digital transfer agent program for tokenized securities trading and settlement. In September 2024, tZERO secured approval to custody digital assets. The firm was the second firm at the time to receive U.S. regulators' approval. tZERO competes with Securitize and Superstate in tokenization. Earlier this summer, tZERO filed a cease-and-desist letter demanding that Securitize halt two products. Securitize said its registry and vault systems lack key features covered by the disputed patents. ICE announced a $600 million direct cash investment in Polymarket in March. ICE had already provided $1 billion to Polymarket last October. ICE also invested in crypto exchange OKX at a $25 billion valuation. In May, ICE and OKX announced a 50-50 joint venture to develop infrastructure for tokenized and digitally native financial products. The firms later partnered on oil perps.