16 US Companies Object to OKXICE Tokenized Shares
Sixteen U.S. corporations have formally objected to having tokenized versions of their shares traded on the OKXICE platform following a new SEC innovation exemption.
Trading volume for tokenized stocks is increasing rapidly in international markets, with Robinhood Chain reporting a surge from $526 million in July to $11.31 billion in September. Despite this growth, OKXICE, a venue launched by OKX and Intercontinental Exchange, reports that 16 U.S. companies have formally objected to the tokenization of their shares as of October 21.
Among the objecting firms are Goldman Sachs, Microsoft, Alphabet, and McDonald's. This resistance is enabled by a recent innovation exemption from the United States Securities and Exchange Commission, which allows companies to opt out of having their shares represented as tokens. This differs from offshore markets that frequently use wrapped tokens and perpetuals, which typically do not require issuer permission.
The U.S. regulatory framework emphasizes placing real shares on-chain, which grants issuers direct control over the process. The current conflict centers on a debate over whether the advantages of 24/7 global liquidity justify the potential loss of control over share trading and the impact on shareholder voting rights.
