Microsoft, Alphabet and Goldman Sachs object to OKX-ICE tokenized stock platform
Microsoft, Alphabet, Goldman Sachs, and four other major corporations have objected to having their shares offered as tokenized stocks on the upcoming OKX-ICE trading venue, raising the total number of corporate objectors to 16.
A wave of prominent U.S. corporations, including Microsoft, Alphabet, and Goldman Sachs, have pushed back against plans to tokenize their shares on OKXICE TSV, a tokenized stock trading venue owned by Intercontinental Exchange and crypto exchange OKX. An updated public notice dated Oct. 19 disclosed seven new corporate objections, adding Qualcomm, Caterpillar, McDonald's, and Western Digital to the list alongside the tech and banking giants.[2][3][4]
The latest filings bring the venue's total disclosed objection count to 16, up from nine previously. Under a Securities and Exchange Commission exemption order issued on Sept. 17, a platform can only list third-party minted tokens after providing the issuer a 30-calendar-day notice window. A written objection submitted within that window legally bars the venue from listing the tokenized security, with the venue required to publicly disclose the objection within five business days.[2][3][4][5]
Under the planned platform's model, a third-party firm called the Tokenizer buys actual shares through an SEC-registered broker-dealer and mints one token per share held, facilitating 24-hour trading in Uniswap v4 pools on the XLayer network for identity-verified wallets. OKX-ICE's initial proposal listed 63 tickers across 62 companies. With 15 of those original issuers now opting out—roughly a quarter of the proposed roster—47 companies still remain without disclosed objections, including Apple, Amazon, Nvidia, Tesla, Coinbase, and JPMorgan Chase.[1][3][5]
Key facts
- Seven companies—Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald's, and Western Digital—newly objected to tokenized share trading on OKXICE TSV in a notice dated Oct. 19.
- A total of 16 companies have now formally objected to trading on the venue, including earlier objectors Cerebras, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon, Applied Optoelectronics, Broadcom, and UnitedHealth.
- Under the SEC's Sept. 17 exemption framework, a written issuer objection submitted within a 30-calendar-day notice window legally bars the venue from listing the tokenized shares.
- About 25% of the 62 companies originally proposed by OKX-ICE have opted out, leaving 47 companies without disclosed objections, including Apple, Nvidia, Amazon, and Tesla.
- The public notice provides no explanation for the issuer objections and does not list an official launch date for the platform.
Sources · 5 sources
- CT
Coin TelegraphArticle ·
Alphabet, Microsoft add objections to OKX-ICE proposed tokenized stock platform About 25% of the US-listed companies in OKXICE’s initial tokenized stock platform proposal are asking to opt-out of the venture.
Open source - DE
DecryptArticle ·
Microsoft, Alphabet, Goldman Sachs Join Growing List of Companies Objecting to Tokenized Stocks Sixteen companies have now objected to having their shares traded on the planned OKX-ICE tokenized stock venue, up from nine just four days earlier, according to an updated public notice.
Open source - UN
UnchainedArticle ·
Microsoft, Alphabet Bar Their Tokenized Shares From OKX-ICE Venue as Objections Hit 16 Sixteen public companies have now told OKXICE TSV , the tokenized stock venue owned by Intercontinental Exchange and OKX , that they object to tokens of their shares trading there, according to an updated public notice dated Oct. 19. The seven newest names are Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald’s and Western Digital . They join nine companies disclosed in the venue’s previous update : Cerebras, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon, Applied Optoelectronics, Broadcom and UnitedHealth. The notice gives no reasons for the objections and no dates on which they arrived. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . What an Objection Does The SEC’s exemption order for tokenized securities venues, issued Sept. 17, lets a venue list a token minted by a firm unaffiliated with the issuer only after it has sent the issuer written notice and waited at least 30 calendar days . If the issuer objects in writing within that window, the venue “cannot make such Tokenized NMS Stock available for trading on the TSV.” The venue then has five business days to disclose the objection in its public notice. That rule reaches the core of OKXICE’s design. Under its notice, an outside firm it calls the Tokenizer buys the real shares through an SEC-registered broker-dealer and issues one token per share it holds. Trading runs 24 hours a day in Uniswap v4 pools on XLayer , a layer-2 blockchain, with each token paired against USDC, USDG or USDT. Only wallets holding a non-transferable soulbound token, issued after identity checks, can trade. The notice says the venue is not registered with the SEC for these activities and is not subject to Regulation NMS. It does not give a launch date. Most of the Original Roster Remains The venue’s first notice named 63 tickers from 62 companies it planned to offer, with Alphabet listed under both GOOG and GOOGL. Fifteen of those companies have since objected. Cerebras, which appeared as the lone objector in that first notice, was not on the roster. That leaves 47 companies from the original list with no objection disclosed so far, among them Nvidia, Tesla, Apple, Amazon, Coinbase and JPMorgan Chase. Related Listen: Robinhood Tokenized AMC Stock Without Asking. It’s Not Illegal, but Should It Be? The post Microsoft, Alphabet Bar Their Tokenized Shares From OKX-ICE Venue as Objections Hit 16 appeared first on Unchained .
Open source - CO
CoindeskArticle ·
Microsoft, Alphabet and Goldman Sachs join objections to OKX-ICE tokenized stock trading Seven more issuers have opted out of being listed on the planned tokenized stock venue under the SEC's framework, bringing its disclosed objection count to 16.
Open source - LS
Laura Shin@laurashinPost on X ·
15 of the 62 companies on OKXICE TSV's original tokenized stock roster have now objected. Under the SEC's exemption, a timely objection means a third-party token of that stock can't trade on the venue. https://t.co/tAb8aYnla4
Open source