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Fifty publicly traded companies have now objected to plans to tokenize their shares on OKXICE, according to its October 30 notice. Nvidia, Nike, Costco, Micron and Reddit joined the latest objectors. The total rose from 38 on October 28, adding 12 companies in two days. Journalist Eleanor Terrett reported the figure on November 1.
OKXICE initially identified 62 companies, represented by 63 stock symbols, for potential tokenization. Yet some companies that later objected did not appear on that original list. The venue's notices track objections as the service moves through its notification process.
The October 30 additions also include CrowdStrike, Corning, IREN, USA Rare Earth, Bloom Energy, Palo Alto Networks, and Hewlett Packard Enterprise. Together with Nvidia, Nike, Costco, Micron, and Reddit, they make up the 12 new objections.
Earlier objections involved Microsoft, Alphabet, Goldman Sachs, JPMorgan Chase, AMD, Intel and Walmart. Together, the notices show opposition among technology companies, financial institutions, retailers and other publicly traded businesses.
The venue recorded 26 objections four days before the October 30 filing. Seven more appeared in its October 27 notice, and five followed on October 28. The latest 12 brought the count to 50, a rise of 24 since October 26.
The public notices identify each company and its stock symbol. They do not provide individual reasons for the objections. No company-specific explanation appears alongside the latest group in the October 30 notice.
The objections have direct consequences under a temporary Securities and Exchange Commission trading exemption introduced on September 17. The SEC requires venues to notify companies before offering shares tokenized by an unaffiliated third party.
Companies have 30 calendar days after receiving notice to object in writing. What does a timely objection actually prevent? Under the exemption, the venue cannot offer the affected company's tokenized shares through that third-party arrangement.
Accordingly, OKXICE must exclude securities subject to valid, timely objections from its planned service. That restriction applies to the particular venue and tokenization structure. It does not bar issuer-backed tokenization or prevent the same company from supporting another arrangement.
The SEC also requires eligible tokenized securities to preserve the rights associated with ordinary shares. These include voting rights, dividends and claims on company assets. The underlying securities must have appropriate custody arrangements and one-for-one backing.
Separately, crypto.news reported allegations that Nasdaq representatives encouraged listed companies to oppose OKXICE. Nasdaq declined to address those claims directly. A spokesperson described the exchange's preference for issuer-led tokenization within existing market structures.
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OKXICE LLC is a Texas company owned equally by Intercontinental Exchange Holdings and OKC USA Holding. Its trading proposal uses permissioned Uniswap v4 liquidity pools on OKX's XLayer blockchain instead of a conventional exchange order book.
Approved investors could trade tokenized shares against stablecoins, including USDC and USDG, around the clock. Prices would come from assets in individual liquidity pools. Investors would first undergo identity checks, sanctions screening, and wallet verification.
An authorized tokenizer would hold ordinary shares through a registered broker-dealer before creating matching blockchain tokens. OKXICE says it would neither issue those tokens nor hold customer assets. Eligible wallets would receive credentials restricting access to approved participants.
The October 30 notice warns that token prices could differ from share prices, particularly outside normal market hours. Trading must also stop whenever the underlying stock faces a halt on its primary exchange.
Daily volume limits would cap Tier 1 securities at 0.25% of the previous month's average trading volume. Tier 2 securities face a 2.5% limit. Nasdaq, meanwhile, has outlined a separate issuer-centered arrangement with Kraken for the second quarter of 2027. OKXICE has not confirmed a launch date.
OKXICE now faces objections from 50 public companies, including Nvidia, Nike and Costco. Under the SEC exemption, timely objections prevent the venue from listing affected third-party tokenized shares. The proposed service still lacks a confirmed launch date, while its trading rules require custody safeguards and volume limits.