Major US Companies Block OKXICE Tokenized Stock Trading Plan

The United States Securities and Exchange Commission is promoting the tokenization of listed company stocks to enable instant settlement and 24/7 trading. To fast-track this development after the Senate rejected the Clarity Act, the agency suspended several rules and investor protections in September via an innovation exemption. This exemption allows platforms to trade tokenized stocks without registering as national securities exchanges, provided they notify companies and allow a 30-day objection window.

Using this framework, OKXICE—a joint venture between crypto firm OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange—attempted to tokenize shares of 63 US companies. The venture is cochaired by former New York Governor Andrew Cuomo. However, the initiative has faced widespread opposition. As of November 5, 2026, 54 of the proposed companies have filed objections, including Alphabet Inc, Apple, Microsoft, Nvidia Corp, JPMorgan Chase & Co, and Walmart.

Objecting firms, such as Applied Optoelectronics, cited concerns over stock volatility, liquidity, and the risk that investors might mistakenly believe the companies endorsed the offering. Meanwhile, the Securities Industry and Financial Markets Association warned the SEC that the move introduces risks of money laundering, insider trading, and theft. In contrast, companies with existing crypto ties, including Coinbase, Circle Internet Group, and Robinhood, have not objected to the listings.