16 U.S. Companies Object to OKXICE Tokenized Stock Trading as Offshore Volume Jumps to $11.31 Billion
Updated
Updated · CNBC · Oct 21
16 U.S. Companies Object to OKXICE Tokenized Stock Trading as Offshore Volume Jumps to $11.31 Billion
3 articles · Updated · CNBC · Oct 21
Summary
OKXICE said 16 companies have now objected to tokenized versions of their shares trading on its platform, including newly listed opponents Goldman Sachs, Microsoft, Qualcomm, Caterpillar, McDonald's, Western Digital and Alphabet.
The pushback matters because the SEC's innovation exemption requires venues to notify issuers and wait 30 days before launching tokenized shares, giving companies a formal opt-out in the U.S.
Abroad, tokenized equity activity is accelerating without that issuer consent model: Robinhood Chain's stock-token volume climbed from $526 million in July to $11.31 billion in September, while non-crypto markets reached 36.5% of Hyperliquid perpetuals volume.
The split reflects a deeper dispute over what stock tokens should confer—especially voting and shareholder rights—leaving issuers wary of 24/7 trading they do not control even as advocates tout broader distribution, lower costs and DeFi collateral use.