Andrew Cuomo to Co-Lead Digital Assets Joint Venture by OKX and ICE
Quick Look
- Former New York Governor Andrew Cuomo will co-chair a new digital assets joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE), parent of the NYSE.
- The venture aims to build infrastructure for tokenized financial products and will allow OKX users access to ICE futures and NYSE tokenized equities markets, pending regulatory approval.
AI-generated summary
Why It Matters
Former New York Governor Andrew Cuomo, who previously aimed to make New York City a global crypto capital, will co-lead a new digital assets venture between OKX and ICE. This follows a March partnership where ICE invested in OKX.
Cryptocurrency exchange OKX and the Intercontinental Exchange (ICE), parent company of the New York Stock Exchange, announced that former New York Governor Andrew Cuomo would co-lead a joint venture focused on digital assets.
In a Monday notice, OKX and ICE said Cuomo, who lost his bid to be New York City’s mayor in 2025, would co-chair the joint project between the two companies “focused on building next-generation infrastructure for tokenized and digitally native financial products.” The venture, which the companies said would allow OKX users to “access ICE futures and NYSE tokenized equities markets,” is subject to regulatory approval.
Cuomo has largely been out of the public eye since his failed 2025 mayoral run, in which he said he intended to make New York City the “global capital for cryptocurrency.” He had the endorsement of the crypto-aligned Innovate NY political action committee (PAC), but lost to Democratic candidate Zohran Mamdani, who secured more than 50% of the vote. The former governor began working with OKX in 2023.
The joint venture notice followed a partnership between ICE and OKX announced in March in which the former invested an undisclosed amount in the exchange at a $25 billion valuation. ICE’s ventures into the crypto industry also included a $2 billion investment pledge into prediction markets platform Polymarket.
Related: NYSE owner ICE to launch oil-linked futures with OKX
Since taking office on Jan. 1, Mamdani has not announced any significant policies related to crypto or blockchain. He confirmed in January that he holds no digital assets as New York City mayor.
New York to hold party primaries on Tuesday
On Tuesday, New York, Utah and Maryland will hold primaries to determine candidates for US House of Representatives and Senate seats in the November general election. Cryptocurrency-aligned PACs, including Fairshake, have poured money into advertising and other campaign efforts to support candidates they view as favorable to the digital asset industry.
Open Questions
- What specific infrastructure will be built?
- What are the regulatory hurdles?
- What is the valuation of the joint venture?
