According to CoinDesk’s count, 56 companies, including Apple, Amazon and Tesla, objected to OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, making their shares available for trading on the blockchain.
OKX and Intercontinental Exchange (ICE) initially selected 62 companies for the platform they are planning. CoinDesk’s count as of November 6 found that 56 of them had objected. The planned platform aims to protect shareholder rights, while giving companies the ability to object to third parties tokenizing their shares.
Why do companies want to be involved in the process?
Former New York Stock Exchange President and Bullish’s new chair, Stacey Cunningham, said in an interview with CoinDesk that companies issuing shares are often left out of the process when equity-linked tokens are developed. Some products only reflect changes in a stock’s price for investors, while others aim to preserve the rights that come with traditional shares.
CoinDesk’s parent company, Bullish, aims to work with companies from the outset. The $4.2 billion acquisition of Equiniti, central to this plan, is expected to close in January 2027 after regulatory approvals. Equiniti, which maintains share ownership records, serves approximately 3,000 companies and more than 20 million shareholders. According to Cunningham, these relationships could make it easier for companies to take part before their shares are moved onto the blockchain.
Not investment advice.