Nvidia, Costco, Nike, Micron and Reddit joined the companies opposing the tokenization of their shares by OKX-ICE as the 30-day notice window nears its deadline. Fifty companies have objected in total, compared with nine on October 15, 16 on October 19 and 38 on October 28. The objection mechanism for issuers applies when a third party tokenizes their securities under the SEC’s five-year Innovation Exemption. Nevertheless, OKX-ICE plans to trade tokens backed by shares around the clock against assets such as USDC in permissioned pools on the X Layer blockchain. Nasdaq, which is developing an issuer-centric token platform with Kraken, opposes such venues because of the risk of liquidity fragmentation and the lack of real-time best-price display.
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