Tokenized Stocks: 33 Firms Block OKXICE, Crypto Stocks Stay

The OKXICE platform, a collaborative venture between OKX and the Intercontinental Exchange, is facing significant resistance as 33 of the 62 initially targeted companies have formally objected to the tokenization of their shares. These objections, which include major corporations like JPMorgan, Microsoft, and Alphabet, represent a combined market capitalization of approximately $17 trillion. Under a September 17 SEC exemption, issuers have a 30-day window to block third-party tokenization of their equity on specific venues. While the proposed tokens would be backed one-for-one by real shares and trade on the X Layer network, the rapid increase in objectors suggests a cautious institutional stance toward on-chain equity. Notably, crypto-native firms like Coinbase and Robinhood have not objected, highlighting a divide between traditional corporate governance and the digital asset industry. SIFMA has further pressured the SEC to mandate explicit issuer consent for such tokenization efforts. This trend underscores the ongoing regulatory and operational friction in bridging traditional stock markets with blockchain-based trading infrastructure.