Wall Street says no: 33 US-listed companies, including Microsoft, Alphabet, JPMorgan Chase, Goldman Sachs, Coca-Cola and McDonald’s, have objected to the trading of tokenized stocks on OKXICE, the joint venture being prepared on a 50-50 basis by OKX and ICE. Their opposition, listed in a notice published on October 27, blocks certain securities under the SEC’s experimental “Innovation Exemption.” Issuers have 30 calendar days to reject a tokenized security proposed by the platform, and such an objection does not amount to a general ban on tokenization. OKXICE plans to enable trading against stablecoins on X Layer, but its listing among platforms that have declared their intention to use the exemption does not constitute SEC regulatory approval.
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