Amazon, Tesla join 56 firms opposing OKXICE tokenized stock plans

Amazon, Tesla, and SpaceX have joined a growing list of 56 companies formally objecting to the tokenization of their shares on the OKXICE platform. This joint venture between OKX and the Intercontinental Exchange aims to facilitate 24/7 trading of tokenized U.S. equities using stablecoins on the X Layer blockchain. Currently, 49 of the 62 companies originally selected by the platform have submitted objections, representing approximately 79% of the initial pool. Major firms including Nvidia, Microsoft, and Alphabet have also voiced opposition, citing concerns over stock pricing, liquidity, and potential investor confusion regarding official company endorsement. Under SEC innovation exemptions, issuers have the right to block unaffiliated third parties from offering tokenized versions of their securities. Despite this widespread resistance, some entities like Apple, Coinbase, and Securitize have not filed objections, leaving their status on the platform uncertain. The platform intends to utilize permissioned Uniswap v4 liquidity pools and automated market makers to replace traditional order books. This standoff highlights the significant friction between traditional equity issuers and third-party tokenization providers attempting to bridge legacy markets with decentralized infrastructure.