The planned venue for tokenized U.S. stocks, a 50-50 joint venture between NYSE owner ICE and crypto exchange OKX, faces growing opposition as Nvidia and Nike join companies objecting to their shares being listed. Journalist Eleanor Terrett reported the number of objecting companies has risen to 50, up from 16 in the October 19 notice, out of 62 companies initially proposed for tokenization. Other objectors include Microsoft, Alphabet, Goldman Sachs, JPMorgan and Walmart. The venue plans to operate under a temporary SEC exemption issued in September that allows trading without registering as an exchange, with trading 24 hours a day, seven days a week, and each stock paired against stablecoins such as USDC and USDT. Trades would run through automated liquidity pools on OKX's X Layer blockchain, and only wallets holding a special access token issued by the venue could trade.
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Related tickers and likely impact
NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/30/2026 | 204.81 |
| Change that session | -4.14% |
GOOGL
• NeutralAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $3.5T |
| Close on 10/30/2026 | 279.76 |
| Change that session | -1.43% |
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Related news
- Microsoft, Alphabet, Goldman Sachs Join Growing List of Companies Objecting to Tokenized Stocks
Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald’s and Western Digital have objected to their shares trading on OKXICE TSV, according to an Oct. 19 notice. The total number of objecting issuers rose to 16 from nine in the venue’s Oct. 15 notice, though neither notice gives reasons. The updated notice also says the venue may offer stocks tokenized by the issuers themselves, not only by third parties. OKXICE TSV is a planned 24/7 tokenized stock venue from OKX and ICE, running on Uniswap v4 pools on XLayer with stablecoin settlement under the SEC's innovation exemption. Nasdaq, which has its own tokenized securities pilot, said it will opt its shares out of the exemption.
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JPMorgan, Coca-Cola and 31 other companies used a new SEC veto to block tokenized stocks on the OKX and ICE venue. Apple and Tesla stay silent.
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Six more companies, including Wells Fargo, Arm Holdings and Intuit, have told the joint venture of OKX and Intercontinental Exchange that they will not allow their shares to be tokenized on its platform, Reuters reported. The new objections bring the total to 22 companies, and the reasons were not stated. The venture, OKXICE, planned to tokenize 63 stocks and filed with the SEC under its new innovation exemption, which requires advance notice and bars listing if an issuer objects. The article notes the objections apply to the OKXICE venue and do not necessarily mean the companies oppose all forms of stock tokenization.
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Intel, IBM, Oracle and IonQ have objected to having their U.S. stocks listed in tokenized form on the exchange proposed by cryptocurrency exchange OKX and ICE, the parent of the New York Stock Exchange. With these four additions, 26 companies have now filed objections, including Alphabet, Wells Fargo and Goldman Sachs. The proposal came weeks after the SEC approved temporary innovation exemptions for tokenized U.S. stocks, under which Tokenized Securities Venues (TSVs) can offer limited trading in tokenized NMS stocks. Many companies opting out have U.S. listings on Nasdaq and the NYSE, and Nasdaq advised issuers in September to be “cautious” about participating. OKXICE initially proposed 62 companies listing tokenized stocks, so about 41% have chosen not to participate as of Monday. Co-chair Andrew Cuomo, a former New York governor, said objecting was a “very natural response” and he expects more names to be added.
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