Microsoft, Alphabet, and Goldman Sachs have objected to tokenized versions of their shares trading on OKXICE, a planned venue backed by crypto exchange OKX and Intercontinental Exchange. Their names appear in an October 19 notice that adds seven companies to the objection list. The total now stands at 16 issuers, compared with nine in an October 15 update.
Qualcomm, Caterpillar, McDonald’s and Western Digital also joined the list. The notices give no reasons for the objections and do not state whether those filings will stop the venue from listing the affected shares.
Seven More Companies Object to Stock Tokens
The latest notice expands the group of companies resisting the proposed trading arrangement. Earlier objectors included Broadcom, Verizon, UnitedHealth Group, CoreWeave, AppLovin, Applied Digital, Rocket Lab and Applied Optoelectronics.
The initial OKXICE notice identified 63 stock tickers from 62 companies. Alphabet accounted for two tickers because the company has two share classes. Of those 62 companies, 15 have now filed objections, leaving 47 without a disclosed objection.
The remaining objector, Cerebras Systems, did not appear on the original proposed roster. That distinction explains why the total number of objecting issuers exceeds the number drawn from the initial list.
Goldman Sachs also appears among the new objectors despite its investments in blockchain-based markets. Neither the bank nor the other companies provided a reason in the public notice.
ICE also owns the New York Stock Exchange, while OKX runs the crypto exchange behind the partnership.
OKX and ICE had begun working together on tokenized securities earlier in 2026, before the October announcement.
OKX and ICE announced the new venue on October 5. Their plan would allow tokenized U.S. shares to trade throughout the day and night, rather than only during conventional stock market hours.
What Do the Issuer Objections Mean for OKXICE?
The October 19 notice does not explain whether an issuer's objection automatically prevents its shares from trading. The earlier document, published four days before, also left that question unanswered.
Still, the updated filing changes how it describes the source of stock tokens. The October 15 version said third parties unrelated to issuers would tokenize the shares. The newer version also allows issuers themselves to do so.
Under the third-party arrangement, a tokenizer would purchase and hold underlying shares on a one-for-one basis through a registered broker-dealer. It would then issue digital tokens intended to carry equivalent dividend and voting rights.
This arrangement differs from a company issuing its own tokens. The revised language now covers both approaches, although the notice does not identify which companies might choose to tokenize their shares directly.
Meanwhile, the proposed OKXICE venue would operate around the clock using Uniswap v4 liquidity pools on OKX's XLayer blockchain. The plan calls for settlement with stablecoins, including USDC and USDT.
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SEC Exemption Shapes the Planned Trading Venue
OKXICE intends to use the Securities and Exchange Commission's five-year Innovation Exemption, which the agency unveiled in September after the Clarity Act stalled in the Senate.
The framework permits qualifying venues to trade tokenized U.S. stocks through automated market makers and liquidity pools without registering as exchanges. It also gives issuers a chance to object.
According to the notice, OKXICE would not follow Regulation NMS or fair-access rules. Those differences have also shaped other exchanges' decisions about participation in the framework.
Nasdaq, which received SEC approval for a separate tokenized securities pilot, has said it will opt its own shares out of the exemption. A Nasdaq spokesperson previously explained its concerns to The Wall Street Journal.
The spokesperson cited the absence of live best-price displays and trade reporting to the consolidated tape on such venues. Separately, the International Monetary Fund warned that tokenized stock markets remain volatile and illiquid despite investor demand.
Conclusion:
Microsoft, Alphabet and Goldman Sachs have joined 13 other issuers objecting to OKXICE tokenized share trading. The planned venue aims to run around the clock using blockchain liquidity pools and stablecoin settlement. Yet its notices do not say whether objections will block listings, leaving their practical effect unclear.