OKXICE tokenized-stock plan draws 22 issuer objections

OKX and NYSE parent ICE filed with the SEC to launch OKXICE, a 24/7 blockchain venue for tokenized U.S. stocks under the agency's five-year Innovation Exemption. The filing lists 60+ securities — Nvidia, Tesla, Apple, Microsoft, Amazon and Alphabet, plus crypto-linked names — with each token backed one-for-one by an underlying share and carrying full dividends and voting rights; trades would run against stablecoin liquidity pools rather than a traditional order book.

Issuer pushback keeps growing: an Oct. 24 notice shows six more companies — including Wells Fargo, Cisco and Marvell — objecting to having their shares tokenized, per Reuters, bringing the total to 22 objectors. Earlier filers included Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald's and Western Digital. Co-chair Andrew Cuomo called the objections a "natural response" as companies take a wait-and-see approach, and Nasdaq has separately said it will opt out of having its own shares tokenized. Companies get 30 days to object; no launch timing has been set. TD Securities analysts found "little interest in tokenizing shares outside a small group of crypto-adjacent companies" and flagged the exemption's temporary nature as the largest hurdle.