Of the 62 companies selected for OKX–ICE’s planned tokenized U.S. stock platform, 56 objected; all six companies with no objection visible on the public list are connected to the crypto industry.
According to CoinDesk’s tally, objections from 56 of the 62 companies could narrow which stocks can be traded on the planned platform. The companies with no objection visible in the public notice dated November 5 were Strategy, Coinbase, Circle, Robinhood, Securitize, and BitGo.
Objections mount to tokenized stock plan
About 90 percent of the companies in the initial selection objected, bringing the announced total number of objections to 67. Eleven of those objections came from companies outside the original group of 62. Meta, Palantir, S&P Global, KLA, and Super Micro Computer were among the objections listed in the latest notice. Apple’s objection had been announced earlier in the week.
OKX and Intercontinental Exchange (ICE) plan to tokenize U.S. stocks on a blockchain so they can be traded around the clock, with transactions settled in stablecoins. Companies can block their shares from being tokenized and traded by an independent third party within 30 calendar days of receiving notice. Trading platforms have five business days to make objections public, so the published list may lag behind companies’ decisions.
The objection period for companies named in the public notice dated October 4 expired this week. However, OKX–ICE may not have disclosed all the objections yet. The planned platform is expected to operate under the U.S. Securities and Exchange Commission’s five-year “Innovation Exemption” and use software that executes trades through asset pools rather than an order book.
Not investment advice.