Microsoft, Alphabet and Goldman Sachs Join Objections to OKX-ICE Tokenized Stock Venue, Bringing Opposing Issuers to 16
OKXICE, the tokenized-stock trading venture between crypto exchange OKX and Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, is facing growing public opposition from listed companies. According to CoinDesk reporting on October 19, Microsoft, Alphabet and Goldman Sachs have joined the list of objecting issuers, with Qualcomm, Caterpillar, McDonald's and Western Digital also appearing as new objectors in the venture's updated public notice dated October 19.
Together with earlier objectors including Broadcom, Verizon, UnitedHealth, CoreWeave, AppLovin, Applied Digital, Rocket Lab and Applied Optoelectronics, the number of publicly opposing issuers has reached 16. Fifteen of them were on OKXICE's original proposed trading roster, while Cerebras Systems was outside that roster. OKXICE announced its plans on October 5, seeking to operate under the SEC's five-year Innovation Exemption framework. The venue plans round-the-clock trading of tokens backed one-for-one by shares, settled in stablecoins and carrying dividend and voting rights equivalent to the underlying shares. The original notice identified 63 tickers representing 62 companies, with Alphabet appearing through both of its share classes.
The SEC framework allows issuers to object to tokenized trading of their own shares, and the wave of objections shows the mechanism becoming a real point of contention between issuers and the new venue. The notice does not state the companies' reasons. How the plan proceeds, and how the proposed trading list changes, remains subject to further public filings. (GSM, based on CoinDesk reporting)
Published by GSM · USA (original Chinese edition)
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