On March 24, cryptocurrency exchange OKX launched perpetual stock contracts. These instruments are denominated in USDT and available for 24/7 trading with leverage up to 10x, according to a press release.
The product targets users from the CIS, Asia, Latin America, Turkey, and other regions. Traders will be able to respond to company earnings reports, macroeconomic events, and news regardless of traditional stock market schedules.
Initially, over 20 instruments are available:
- The "Magnificent Seven": Nvidia (NVDA), Tesla (TSLA), Apple (AAPL), Alphabet (GOOGL), Microsoft (MSFT), Amazon (AMZN), Meta (META);
- Technology companies Palantir (PLTR), Intel (INTC), Micron Technology (MU), SanDisk (SNDK);
- Crypto sector: Strategy (MSTR), Coinbase (COIN), Robinhood (HOOD), Circle (CRCL);
- ETF on S&P 500 (SPY).
Unlike platforms that require separate accounts for trading cryptocurrencies and stocks, OKX has integrated both markets into a single account with shared collateral. Traders can use Bitcoin, Ethereum (ETH), Tether (USDT), and staking assets as margin for stock contracts, while locked assets continue to generate income.
“With the launch of stock contracts, we are expanding our infrastructure, providing access to global stock markets without the need to alter the structure of crypto portfolios. This is an important step toward integrating a wider range of real assets on our platform,” said OKX founder and CEO Star Xu.
In the coming months, the exchange plans to expand its list of stock instruments and add new products based on tokenized real assets.
On March 5, Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), announced strategic investments in OKX, valuing the latter at $25 billion. According to Bloomberg, the investment was around $200 million. Under the terms of the deal, 120 million OKX users will gain access to ICE's futures markets in the U.S. and tokenized stocks listed on the NYSE.
Previously, ForkLog published a guide on connecting AI agents to OKX's trading infrastructure.