Microsoft, Alphabet and 14 other public companies have objected to OKXICE’s plans to offer blockchain-based versions of their shares. Co-chaired by crypto exchange OKX and ICE, the platform aims to trade 63 U.S. stocks around the clock under a temporary SEC exemption. Under the applicable rules, companies have 30 days after receiving notice to object, but their consent is not required and their objection does not prevent other firms from offering the tokens overseas. The objections could nevertheless empty the platform’s initial lineup, which targets a market estimated at $35 billion, while raising concerns over pricing, liquidity, volatility and investor protection.
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