OKXICE, a joint venture between crypto platform OKX and Intercontinental Exchange (ICE), announced on October 5 a proposed tokenized stock trading platform under the SEC’s five-year Innovation Exemption introduced on September 17. Sixteen companies now oppose having tokenized versions of their shares traded on this platform, representing approximately a quarter of the 62 companies initially proposed. Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald’s and Western Digital are among the most recent objectors. The platform would enable 24-hour trading via Uniswap v4 liquidity pools on OKX’s XLayer blockchain, using stablecoins such as USDT, USDC and USDG, with each tokenized share backed by an underlying stock held through a registered broker-dealer.
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