Former New York Governor Andrew Cuomo is taking on a new role in the digital asset industry, joining a venture between crypto exchange OKX and NYSE’s parent company Intercontinental Exchange (ICE) for bringing TradFi and cryptocurrency markets closer together.
Cuomo will serve as co-chair of a newly announced joint venture between OKX and ICE, alongside Trabue Bland, ICE’s senior vice president of futures exchanges.
The venture plans to launch a U.S.-registered broker-dealer and futures commission merchant, subject to regulatory approvals.
The platform would allow OKX to expand its reach among U.S. investors while giving international customers access to ICE futures products and NYSE-listed tokenized equities.
“I think that is going to be a very, very powerful combination,” Cuomo said in an interview to Bloomberg. “It’s ICE and the New York Stock Exchange recognizing that this technology is coming.”
For Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and the broader digital asset ecosystem, the move signals growing institutional confidence that tokenized financial products could become a meaningful part of future capital markets.
ICE reportedly acquired a $200 million stake in OKX earlier this year, valuing the exchange at approximately $25 billion and securing a board seat in the company.
NYSE has also been expanding its blockchain ambitions. Earlier this year, the exchange announced plans to build a venue for trading tokenized stocks and exchange-traded funds around the clock using blockchain technology.
The new venture would further integrate digital assets with traditional market infrastructure, a trend that has accelerated under President Donald Trump’s administration as regulators adopt a more crypto-friendly approach.
Cuomo’s Crypto Connection
Cuomo began working with OKX in 2023 and previously advised the company on policy and regulatory matters, including its response to a federal investigation.
In February, OKX pleaded guilty and agreed to pay more than $504 million in penalties after U.S. authorities alleged the exchange processed over $1 trillion in transactions involving U.S. customers without the required licenses.
Despite that scrutiny, OKX has continued expanding its institutional relationships and U.S. ambitions.
Cuomo, who served as New York governor from 2011 until his resignation in 2021, said innovation and regulation must evolve together.
“I understand the role for government. I understand the role for the private sector,” Cuomo said. “Let the private sector grow, let them innovate, let them find and develop new products. But make sure they’re doing it in a safe way.”
Image: Shutterstock
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