Intercontinental Exchange Invests in $25B-Valued OKX

Deutsche Bank upgrades ICE stock to Buy with $188 price target

Published on Mar. 10, 2026

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Intercontinental Exchange, Inc. (NYSE:ICE) announced a strategic partnership and investment in the cryptocurrency platform OKX, which serves over 120 million users worldwide. The investment values OKX at around $25 billion. As part of the agreement, ICE will take a seat on OKX's Board of Directors and the two companies plan to collaborate in areas like market structure, clearing, data services, and institutional access to digital assets. A day earlier, Deutsche Bank upgraded ICE stock to Buy from Hold and set a $188 price target.

Why it matters

This partnership allows ICE to expand its footprint in the growing cryptocurrency market by leveraging OKX's blockchain infrastructure and global user base. It also gives ICE a compliant way to offer crypto futures to institutional investors. The investment values OKX at a significant $25 billion, highlighting the rapid growth of the crypto industry.

The details

Under the agreement, ICE will take a seat on OKX's Board of Directors and the two companies plan to explore joint work in several areas. These include market structure, clearing and risk management, data services, and institutional access to digital assets. ICE also intends to license OKX's spot crypto prices to launch U.S.-regulated crypto futures. Additionally, if regulators approve, OKX may give its users access to ICE's U.S. futures markets and tokenized equities listed on the New York Stock Exchange.

  • On March 6, Deutsche Bank upgraded ICE stock to Buy from Hold and set a $188 price target.
  • A day earlier, on March 5, Intercontinental Exchange announced the strategic partnership and investment in OKX.

The players

Intercontinental Exchange, Inc.

A provider of financial technology and data services across major asset classes, including operating exchanges, clearing houses and providing data and listings services.

OKX

A cryptocurrency platform that serves more than 120 million users worldwide. The investment values OKX at around $25 billion.

Brian Bedell

An analyst at Deutsche Bank who upgraded ICE stock to Buy from Hold and set a $188 price target.

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What’s next

If regulators approve, OKX may give its users access to ICE's U.S. futures markets and tokenized equities listed on the New York Stock Exchange.

The takeaway

This strategic partnership allows ICE to expand its presence in the rapidly growing cryptocurrency market by leveraging OKX's technology and user base. It also provides a compliant way for ICE to offer crypto futures to institutional investors, further bridging the gap between traditional finance and digital assets.