OKX is pushing its trading platform further into traditional markets, launching pre-IPO products tied to OpenAI and Anthropic alongside 100 tokenized stock markets for eligible European traders.
The move gives users access to markets that have typically sat outside the reach of ordinary brokerage accounts, while keeping crypto, equities and derivatives inside the same trading environment.
The first pre-IPO products are X-Perps linked to OpenAI and Anthropic. Rather than owning shares in either private company, traders can take leveraged long or short positions based on their implied valuations.
Leverage goes as high as 10x, and positions can be opened or closed around the clock. OKX said it plans to add more pre-IPO markets as new opportunities emerge.
The stock side of the launch is broader. OKX is introducing 100 tokenized markets covering companies including SpaceX, Google, NVIDIA and Palantir, as well as the SPY and QQQ ETFs.
OKX Is Turning the Trading Account Into a Market Hub
The products are designed to behave more like digital-native trading instruments than conventional brokerage holdings. Users can buy, sell or convert the tokens outside regular stock-market hours, with support for market, limit, stop, TWAP and Iceberg orders.
The tokenized positions can also interact with other parts of the OKX platform. Customers can use them as collateral for X-Perps, while DCA and Grid trading bots can be applied to the positions.
There is an important distinction beneath the slick trading interface: these tokens track the price of the underlying stocks but do not represent direct ownership. Holders do not receive shareholder voting rights.
OKX is also leaning into the on-chain side of the offering. The tokenized assets can be deposited and withdrawn on-chain, including to self-custody wallets, bringing a familiar crypto mechanic to instruments linked to public companies.
For European traders, the appeal is partly about access. Erald Ghoos, CEO of OKX Europe, said pre-IPO exposure has been difficult to obtain through traditional brokerages and regulated platforms.
Ghoos also pointed to growing demand for the company’s derivatives products. According to him, X-Perps trading volume in Europe has increased fourfold since the MiCA transition period ended in July.
The broader strategy is visible in how OKX has packaged the launch. Users do not need to maintain separate accounts for crypto and the new market products. Spot crypto, X-Perps, Bots, Earn and Pay all sit within the same account.
That also means traders can use a shared margin balance, common order types and trading bots across products that traditionally live in separate financial worlds.
The result is less a conventional brokerage bolted onto a crypto exchange than a single interface trying to make the boundaries between the two increasingly invisible.
The products are available to eligible European customers, with the pre-IPO offering initially centered on OpenAI and Anthropic and the tokenized stock platform launching with 100 markets.
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