Amazon, Tesla and SpaceX are among 56 companies opposing OKX and Intercontinental Exchange’s tokenized stock trading plans. The latest objections appeared ahead of the November 3 deadline.
Netflix, SoFi Technologies and Lam Research were among six additions listed in OKXICE’s November 2 public notice. Journalist Eleanor Terrett reported the additions on X.
56 Companies Challenge OKX-ICE Stock Tokenization
The proposed venue would let investors trade tokenized U.S. stocks around the clock using stablecoins. It plans to operate under the SEC’s five-year innovation exemption, which permits automated market makers to execute trades through liquidity pools.
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Of the 62 companies initially selected, 49 have objected. Seven companies outside that group have also opposed the proposal, bringing the total to 56.
The 49 objections represent nearly 79% of the original group. Thirteen companies have no disclosed objections, including Apple, Robinhood, Coinbase and Strategy.
OKX-ICE Awaits Further Company Responses
Companies have 30 days after receiving written notices to object. Trading venues must publish objections within five business days.
OKX-ICE co-chairman Andrew Cuomo said during a Friday press conference some companies wanted to watch the market before participating.
“I think the more people become familiar with tokenization, and the more they see the benefits of tokenization, I think you’ll see more and more companies participate,” he said.
Cuomo did not provide a launch date or disclose how many stocks would initially be available.
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