Apple and Meta object to OKX-ICE tokenized stock plans
Apple, Meta and Palantir join the objection list
Apple and Meta Platforms have objected to plans by crypto exchange OKX and NYSE parent Intercontinental Exchange to trade tokenized U.S. stocks. Tokenized stocks are digital versions of shares that trade on a blockchain, which is a shared digital record system.
The objections were included in OKXICE's public notice dated Thursday, Nov. 5. Total disclosed objections have now reached 67.
CoinDesk counted the objections. Of the 62 companies in OKXICE's initial selection, 56 have objected. That is about 90%.
Main points from the notice
- 67 companies have disclosed objections in total.
- 56 of the initial 62 companies have objected, according to CoinDesk's tally.
- 11 objections came from companies outside the original selection.
- Six companies from the initial selection have no disclosed objection.
- Those six are Strategy, Coinbase, Circle, Robinhood, Securitize and BitGo.
Which companies objected most recently
Thursday's additions were Meta, Palantir, S&P Global, KLA and Super Micro Computer.
Apple appeared earlier this week. So did Home Depot, GE Vernova, Nebius, Boeing and ServiceNow.
Strategy, Coinbase, Circle and Robinhood were absent from the objection list in the Nov. 5 notice. Securitize and BitGo had previously told CoinDesk they did not plan to object.
What OKXICE plans to offer
OKXICE plans round-the-clock trading of tokenized U.S. stocks. Payments would be settled in stablecoins. Stablecoins are digital tokens designed to keep a steady value.
The plan would operate under the SEC's five-year Innovation Exemption. That framework allows qualifying venues to use automated market makers. Those are software systems that execute trades through pools of assets instead of an order book.
Companies have 30 calendar days after receiving notice to block trading of their shares when tokenized by an unaffiliated third party. Venues have up to five business days to publish objections.
What is still unclear
The deadline for issuers in the Oct. 4 public notice passed this week. OKXICE may not have disclosed all objections yet, because publication can lag a company's decision.
OKXICE co-chairman Andrew Cuomo said last week that companies outside the initial selection had approached the venture about joining. He did not name them or give a count.
A separate Canton-based venue, TSV, went live earlier this week. It traded tokenized shares of Canton Strategic Holdings, using an issuer-sponsored approach that avoids the 30-day objection process.
Why the remaining companies matter
The six companies without a disclosed objection could shape the starting range of stocks on the planned market. All six have ties to the crypto industry.
That is narrower than the original aim. The venture first sought shares across megacap tech, banking, retail and industrial companies.
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.
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