Amazon, Tesla and SpaceX Join Objections to OKXICE Tokenized Stock Plans
Six more companies say no to tokenized stock trading
Amazon, Tesla, SpaceX, Netflix, SoFi Technologies and Lam Research have objected to plans by OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange (the parent of the New York Stock Exchange), to let investors trade tokenized versions of U.S. shares. Tokenized stocks are digital versions of shares tracked on a blockchain, a shared ledger that records transactions.
The six names appear in OKXICE's updated public notice dated Monday, Nov. 2. They bring disclosed objections to 56, up from 50 in Friday's update, according to the CoinDesk report.
Where the objection count stands
- Amazon, Tesla, SpaceX, Netflix, SoFi and Lam Research are the latest companies to object, per OKXICE's Nov. 2 notice.
- Of the 62 companies OKXICE initially picked for trading, 49 — about 79% — have objected, per a CoinDesk tally.
- Seven other objectors were outside that original selection.
- Companies that received notice on Oct. 4 had until Tuesday, Nov. 3 to object under the SEC's 30-day response window.
What OKXICE is building
The joint venture plans to let investors trade tokenized versions of U.S. shares around the clock on a blockchain-based venue, paying with stablecoins — crypto tokens designed to hold a fixed value, usually one U.S. dollar. It would operate under the SEC's five-year "innovation exemption," which allows qualifying marketplaces to use automated market makers: software that executes trades through pools of assets instead of matching buyers and sellers in an order book.
Supporters promise longer trading hours and faster settlement, but the growing objection list shows how cautious companies remain. Issuers are weighing whether the new markets would attract additional investors and how trading outside the familiar stock market would affect their shares.
How the objection deadline works
Under the SEC's rules, companies have 30 days after receiving a venue's written notice to object. For issuers that received notice on Oct. 4, when OKXICE published its initial filing, that deadline fell on Tuesday, Nov. 3. The clock runs from receipt of each individual notice, so the filing does not establish a common deadline for every company.
Venues like OKXICE have up to five business days to publish objections, meaning further responses could still emerge after the deadline.
The 13 companies with no disclosed objection
Thirteen companies from the initial selection had no disclosed objection as of Monday's notice: Apple, Strategy, Robinhood, Coinbase, Super Micro Computer, Palantir, Circle, ServiceNow, GE Vernova, Boeing, Home Depot, Securitize and BitGo. Securitize and BitGo previously told CoinDesk they did not plan to object.
What the venture's co-chair says
Andrew Cuomo, OKXICE's co-chairman and former New York governor, said during a Friday press conference that many companies wanted to see first how the market worked before participating. He said companies outside the initial selection had approached the venture about joining, but declined to name them or give a count. He also did not give a launch date or say how many stocks would be available when trading begins.
"I think the more people become familiar with tokenization, and the more they see the benefits of tokenization, I think you'll see more and more companies participate," he said during the press conference. "But we are at the very beginning of the rollout of fundamentally different market structure."
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.