Apple and Meta have joined companies objecting to OKXICE’s plan to trade tokenized US stocks, bringing the total to 67. The proposed market, backed by crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange (ICE), has yet to announce a launch date.
OKXICE’s November 5 public notice added Meta, Palantir, S&P Global, KLA and Super Micro Computer to its objection list. Apple, Home Depot, Boeing, GE Vernova, Nebius and ServiceNow appeared in updates earlier that week. Other companies opposing the plan include Nvidia, Tesla, Microsoft, Amazon and Alphabet.
The venture initially identified 62 companies covering 63 share classes for possible trading. By November 5, 56 of those companies had objected, representing about 90% of the original selection. Eleven additional objectors were not part of the starting list.
Some issuers have raised questions about how the proposed system would operate. Applied Optoelectronics said “the framework is still new and its potential impact on our stock, including pricing, liquidity and volatility, is uncertain.” Its spokesperson also cited the risk that investors might mistake independently issued tokens for a company-sponsored offering.
Strategy, Coinbase, Circle and Robinhood have not appeared on OKXICE’s published objection list. The same applies to Securitize and BitGo, which previously indicated that they did not intend to oppose the proposed trading. All six operate in cryptocurrency, digital assets or related financial services.
However, an absent objection does not mean that an issuer has formally endorsed OKXICE. It also does not guarantee that its shares will be available when trading starts. The venture has not confirmed its final stock selection or opening date.
OKXICE plans to offer trading 24 hours a day, seven days a week. Its proposed system would let investors exchange tokenized shares for stablecoins through blockchain-based trading pools rather than a traditional order book. Independent providers would need to supply trading liquidity, while the venture and its affiliates would not act as liquidity providers.
OKXICE co-chairman Andrew Cuomo said in late October that companies outside the original selection had expressed interest in joining. However, he did not identify those businesses or disclose how many had approached the venture.
The Securities and Exchange Commission introduced its five-year Innovation Exemption on September 17. Under the framework, a venue must notify a company before offering tokens created by a third party without the issuer’s involvement. The company then has 30 calendar days after receiving notice to file an objection.
A timely objection prevents that venue from trading the affected tokens under the exemption. Moreover, venues have five business days to disclose objections publicly, meaning further names may appear after an issuer’s response deadline.
The SEC also limits how many securities participating venues can offer and the volume they can handle. For Tier 1 stocks, the ceiling is 75 symbols and 0.25% of each stock’s average daily volume in the previous month. Tier 2 allows 250 symbols and 2.5%. Its registry lists OKXICE alongside TSV LLC and Perpetuals.com, but the regulator says appearing on that list does not confirm compliance with the exemption’s conditions.
Separately, TSV LLC said it began trading tokenized Canton Strategic Holdings shares on November 4. That platform uses an issuer-backed approach, so the same third-party objection process does not apply. OKXICE’s website still describes its own platform as forthcoming, with no confirmed start date.
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