Nine U.S. companies block stock tokenization on OKXICE platform

stock tokenization OKXICE SEC Innovation Exemption blockchain trading real-world assets

Nine U.S.-listed companies have formally objected to the tokenization of their shares on OKXICE, a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE). The companies—Broadcom, Verizon, UnitedHealth Group, CoreWeave, AppLovin, Applied Digital, Rocket Lab, Applied Optoelectronics, and Cerebras Systems—used an opt-out mechanism provided by the SEC’s September 17 Innovation Exemption.

Under this regulatory framework, platforms can offer tokenized stocks provided they notify issuers 30 days in advance. The companies cited concerns regarding potential impacts on stock price, liquidity, and volatility, as well as the risk of investor confusion regarding whether the companies officially endorse the tokenized products. Applied Optoelectronics specifically noted it could not assess the impact on its market dynamics.

Nasdaq has also opted not to allow its own shares to be traded as tokens on third-party platforms under the current exemption. Despite these objections, which represent approximately 14% of the 63 stocks originally targeted, OKXICE intends to proceed with tokenized offerings for other major entities, including Nvidia, Apple, Microsoft, and Amazon. The platform aims to provide 24/7 trading using the X Layer blockchain and Uniswap v4 liquidity pools.

Entities

Broadcom · Intercontinental Exchange · OKX · OKXICE · Securities and Exchange Commission · U.S. Securities and Exchange Commission · UnitedHealth Group · Verizon

Claims

What the coverage asserts, and how many sources carry each claim.

[● 4 SOURCES] The nine objecting companies are Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon, Applied Optoelectronics, Broadcom, and UnitedHealth Group. www.crypto-news-flash.com · cryptobriefing.com · news.bitcoin.com · unchainedcrypto.com
[● 3 SOURCES] Nasdaq has decided not to allow its own shares to be traded as tokens on third-party platforms under the current SEC exemption. blockcast.it · koinbulteni.com · journalducoin.com
[● 6 SOURCES] Companies have expressed concerns regarding potential impacts on stock price, liquidity, volatility, and investor confusion. blockcast.it · journalducoin.com · koinbulteni.com · www.crypto-news-flash.com · cryptobriefing.com · +1 more
[● 4 SOURCES] OKXICE plans to offer 24/7 trading of tokenized stocks using the X Layer blockchain and Uniswap v4 liquidity pools. blockcast.it · www.tokenpost.kr · cryptobriefing.com · news.bitcoin.com
[● 2 SOURCES] The nine objections represent approximately 14% of the 63 stocks originally targeted by OKXICE. cryptobriefing.com · blockcast.it
[● 9 SOURCES] Nine U.S.-listed companies have formally objected to having their shares tokenized on the OKXICE platform. blockcast.it · www.tokenpost.kr · journalducoin.com · koinbulteni.com · www.spacemoney.com.br · +4 more
[● 9 SOURCES] The SEC’s Innovation Exemption allows companies to veto the tokenization of their shares on specific platforms if they object within a 30-day notice period. blockcast.it · www.tokenpost.kr · journalducoin.com · koinbulteni.com · www.spacemoney.com.br · +4 more
[● 3 SOURCES] OKXICE still plans to proceed with tokenized offerings for companies such as Nvidia, Apple, Microsoft, and Amazon. blockcast.it · koinbulteni.com · cryptobriefing.com
[● 2 SOURCES] The objections were submitted in three separate batches between October 4 and October 15. www.crypto-news-flash.com · unchainedcrypto.com