33 US Companies Reject OKX-ICE Tokenized Stock Plan

A coalition of 33 major U.S. corporations has formally objected to the inclusion of their shares on the proposed OKX-ICE tokenized stock exchange. The platform, a joint venture between OKX and the Intercontinental Exchange, submitted a proposal under a five-year SEC innovation exemption to offer 63 U.S. stocks as digital tokens. Under the regulatory framework, companies must be notified of intended listings and possess the right to veto the tokenization of their equity within 30 days. Notable objectors include JPMorgan Chase, Microsoft, Alphabet, Coca-Cola, and IBM, representing a combined market capitalization of approximately $17 trillion. These companies cite concerns regarding investor confusion, potential volatility, and a lack of control over secondary market trading environments. While the platform may still proceed with non-objecting issuers, the widespread rejection significantly limits the initial asset selection available to users. This development highlights the ongoing friction between traditional equity issuers and the emerging blockchain-based trading infrastructure. The outcome of this initiative will serve as a critical test case for the viability of tokenized securities under current U.S. regulatory exemptions.