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Microsoft and Alphabet among 16 companies objecting to OKX-ICE stock tokenization
A group of 16 major corporations, including Microsoft, Alphabet, Goldman Sachs, McDonald’s, and Qualcomm, have formally objected to the tokenization of their shares on the proposed OKXICE platform. The joint venture, established by cryptocurrency exchange OKX and Intercontinental Exchange (ICE), aims to provide 24/7 trading of tokenized U.S. equities using Uniswap v4 liquidity pools on the X Layer blockchain.
The objections were filed under the U.S. Securities and Exchange Commission’s (SEC) “Innovation Exemption,” which allows certain tokenized security platforms to operate under specific conditions. This regulatory framework grants issuers the right to opt out of third-party tokenization by providing written notice within 30 days of being notified by the platform.
Andrew Cuomo, a co-chair of the venture and former New York Governor, characterized the resistance as a natural part of the process, suggesting companies are hesitant to be early adopters. He noted that approximately 25% of the 62 companies initially proposed for the platform have issued objections. The platform intends to pair tokenized stocks with stablecoins such as USDT, USDC, or USDG.
Entities
Alphabet · Goldman Sachs · Intercontinental Exchange · Microsoft · Nasdaq · OKX · OKXICE TSV · SEC · U.S. Securities and Exchange Commission · Verizon
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Tokenized stocks will be paired with stablecoins including USDT, USDC, or USDG. cointelegraph.com
- [○ 1 SOURCE] The proposed platform aims to offer 24/7 trading for tokenized U.S. stocks. www.neweconomy.jp
- [● 2 SOURCES] The platform plans to use Uniswap v4 liquidity pools on the X Layer blockchain. www.neweconomy.jp · cointelegraph.com
- [○ 1 SOURCE] The SEC's Innovation Exemption allows issuers to object to third-party tokenization within 30 days. www.neweconomy.jp
- [● 3 SOURCES] OKXICE is a joint venture between OKX and Intercontinental Exchange (ICE). www.neweconomy.jp · news.bitcoin.com · cointelegraph.com
- [● 3 SOURCES] 16 companies have formally objected to the OKXICE tokenized stock trading plan. www.neweconomy.jp · news.bitcoin.com · cointelegraph.com
- [● 3 SOURCES] Microsoft, Alphabet, and Goldman Sachs are among the companies that issued objections. www.neweconomy.jp · news.bitcoin.com · cointelegraph.com
- [○ 1 SOURCE] Approximately 25% of the 62 proposed companies have issued objections. cointelegraph.com