From Decrypt · By Decrypt Agent
In brief
Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald’s and Western Digital have objected to trading of their shares on OKXICE TSV, according to its Oct. 19 notice.
That brings the total to 16 issuers, up from nine in the venue’s Oct. 15 notice, though neither notice explains their reasons.
The updated notice also says the venue may offer stocks tokenized by the issuers themselves, not just by third parties.
The corporate backlash against tokenized stocks is snowballing.
Seven more companies, including Microsoft, Google parent Alphabet, and Goldman Sachs, have objected to having their shares traded on OKXICE TSV, according to an updated public notice dated Monday.
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OKXICE TSV is a planned tokenized stock venue from OKX and NYSE owner Intercontinental Exchange. Qualcomm, Caterpillar, McDonald’s, and Western Digital also joined the list.
That brings the total to 16 objecting issuers, up from nine in the venue’s previous notice just four days earlier. The earlier group included Verizon, Broadcom, UnitedHealth Group, CoreWeave and Rocket Lab. Neither notice explains the companies’ reasons or whether objecting keeps a stock off the platform.
Goldman’s inclusion stands out, given the bank’s own investments in blockchain-based markets.
The updated notice also contains a quiet but notable change. The Oct. 15 version said the venue would offer stocks tokenized by third parties unaffiliated with the companies. Monday’s version says it will offer stocks tokenized by either an outside party or the issuer itself, potentially giving companies a more direct role in how their shares appear onchain.
BitcoinBTC · USD$82,662−0.9%Oct 13Oct 15Oct 17Oct 19Oct 20$83.7k$82.6k$81.4k$80.2k24h HighHigh$83,24924h LowLow$81,155VolVol$1.1BMarket projectionsOdds by MyriadThis weekAbove $82,000Above $82k60% chance→Buy Bitcoin with USDTPowered by JupiterPrice data by CoinGeckoCoinGeckoMore Bitcoin news and projections →Under the third-party model, an outside “tokenizer” buys and holds real shares one-for-one through a registered broker-dealer, then issues tokens meant to carry the same dividend and voting rights, according to the notice.
The venue plans to run 24/7 on Uniswap v4 liquidity pools on OKX’s XLayer blockchain, with trades settled in stablecoins such as USDC and USDT.
OKXICE is set to operate under the SEC’s innovation exemption, which the agency unveiled in September after the Clarity Act stalled in the Senate. The exemption lets venues trade tokenized U.S. stocks without registering as exchanges, and the notice acknowledges OKXICE isn’t subject to Regulation NMS or fair-access rules.