Major Tech and Telecom Firms Object to Tokenized Stock Trading on OKXICE
Major companies block tokenized trading of their shares
Nine U.S.-listed companies have filed objections to prevent tokenized versions of their stock from trading on OKXICE. Tokenization involves turning ownership of an asset, like a stock share, into a digital token on a blockchain, which is a shared digital ledger.
OKXICE is a joint venture between the crypto exchange OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange. The venue recently notified several companies of its intent to offer their shares as digital tokens.
Nine firms file formal objections
- The nine companies that objected include CoreWeave, Broadcom, Verizon, and UnitedHealth Group.
- Other objectors are Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, and Applied Optoelectronics.
- A timely objection legally bars a trading venue from offering a company's stock under current regulatory rules.
- OKXICE previously listed 63 stocks it intended to offer, and eight of the nine objectors were on that list.
Reasons for corporate skepticism
Applied Optoelectronics stated it objected because of uncertainty regarding how tokenization would affect its stock price, liquidity, and volatility. Liquidity refers to how easily an asset can be bought or sold without affecting its price. The company also expressed concern that investors might be confused about whether the company endorsed the offering.
Nasdaq also announced it would opt out of having its own shares tokenized on the venue. A spokesperson said Nasdaq prefers trading venues that display the best prices in real-time and report data to a central system. Both Nasdaq and Citadel Securities have previously raised concerns about transparency in "shadow" equity markets created by tokenization.
How the SEC innovation exemption works
OKXICE operates under a five-year "innovation exemption" from the Securities and Exchange Commission (SEC). This rule allows venues to trade tokenized versions of U.S. stocks without registering as full national exchanges. When a third party tokenizes a stock, it must notify the company 30 days before trading begins.
The company then has 30 days to file an objection. If the company remains silent, the listing can proceed. An objection only applies to the specific venue that sent the notice. This means a company could allow its stock to be tokenized on one platform while blocking it on another.
The growth of tokenized securities
Despite the objections, the market for tokenized stocks has grown significantly. Data shows the market cap for these assets rose from roughly $680 million at the start of the year to about $3.5 billion by mid-October 2026. OKXICE co-chair Andrew Cuomo stated he expected some companies to be skeptical during this first step toward tokenizing securities.
OKXICE still plans to offer tokenized shares for many other major companies, including Nvidia, Apple, Microsoft, Amazon, and Tesla. The venue will use permissioned liquidity pools where traders must pass identity checks and hold a specific digital token to participate.
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.