OKX Launches Pre-IPO Perpetual Futures and Tokenized Stocks in Europe

OKX Europe Markets Limited, operating under the Malta Financial Services Authority, launched Pre-IPO X-Perps for OpenAI and Anthropic on September 10, 2026. The exchange also introduced 100 tokenized stocks, including assets such as SpaceX, Google, NVIDIA, and Palantir.

The Pre-IPO X-Perps are perpetual futures contracts that allow traders to take positions on the implied valuations of private companies. These instruments enable users to speculate on valuations, such as the $852 billion figure for OpenAI or the $965 billion price tag for Anthropic, without requiring accredited investor status.

Traders can utilize up to 10x leverage on these contracts, an increase from the 0.01-5x range previously offered by the exchange for similar products in May 2026. The 100 tokenized stocks function as synthetic instruments that track the share prices of public companies and ETFs, including SPY and QQQ. These products trade 24/7, allowing for continuous market participation.

The exchange notes that these tokenized stocks do not grant ownership or voting rights, as users are trading price movements rather than acquiring equity. The platform utilizes a technology layer called xStocks, which allows users to manage crypto and equity-linked products within a single account.

According to the exchange, trading volume for X-Perps in Europe has quadrupled since the MiCA transition period concluded in early July 2026. This offering provides retail participants with access to pre-IPO valuations that were historically restricted to venture capital firms, sovereign wealth funds, and secondary-market block trades with seven-figure minimums.