OKX-ICE tokenized-stock objectors climb to 50 firms

OKX and NYSE parent ICE are pushing ahead with OKXICE, their 24/7 blockchain venue for tokenized U.S. stocks under the SEC's five-year Innovation Exemption, trading 60+ securities one-for-one backed by underlying shares through Uniswap v4 pools on OKX's XLayer chain. Issuer pushback keeps growing: Nvidia, Costco, Nike and Micron are among 12 additional companies that objected, bringing the tally to 50 firms opposing their tokenized listing on the venue.

• Co-chair Andrew Cuomo has called the objections a "natural response," and JPMorgan says its objection doesn't rule out future participation.
• Companies get 30 days to object to third-party tokenization; silence lets trading proceed without a later opt-out, while 19 firms including Apple, Tesla and Amazon have no disclosed objection.
• Rival TSV LLC on the Canton Network could beat OKXICE to the first tokenized-stock trade, with issuer-sponsored listing sidestepping the objection process.

No OKXICE launch timing has been set.