Seven more issuers have objected to OKXICE trading tokenized versions of their stock, the venue’s public notice dated 19 Oct shows: Goldman Sachs, Microsoft, Qualcomm, Caterpillar, McDonald’s, Western Digital and Alphabet. That takes the list to 16. OKXICE, owned equally by Intercontinental Exchange and OKX-affiliated OKC USA Holding, was last covered by CryptoWatchDesk on 18 Oct, when nine issuers had objected.
The opt-out has moved from mid-caps to the index heavyweights. Microsoft was one of the companies OKXICE told The Wall Street Journal it still planned to list, alongside Nvidia and Apple, The Block reported on 17 Oct. Nvidia and Apple are not on the list; Microsoft now is, and the count has risen with every revision of the notice.
| Notice | Objecting issuers |
|---|---|
| 4 Oct | 1 |
| 8 Oct | 4 |
| 15 Oct | 9 |
| 19 Oct | 16: adds Goldman Sachs, Microsoft, Qualcomm, Caterpillar, McDonald’s, Western Digital, Alphabet |
Source: OKXICE TSV public notices, CryptoWatchDesk comparison.
Under the SEC’s exemptive order, a venue offering stock tokenized by an unaffiliated third party must notify the issuer first, and a timely objection keeps that token off the venue. An objection binds only the venue that sent the notice, according to Nasdaq. The notice gives no reasons for any of the 16.
CryptoWatchDesk compared the 19 Oct notice with the 15 Oct version. Apart from the new names, one sentence changed: the section describing what OKXICE will trade said on 15 Oct that the stocks are tokenized by a third party unaffiliated with the issuer, and now says they may be tokenized by the issuer or by such a third party.
Decrypt first reported the new wording on Tuesday. The change is narrower than it looks: a separate section of both versions already allowed stock tokenized by or on behalf of the issuer.
Trading is to run through permissioned Uniswap v4 pools on X Layer, paired with USDC, USDG or USDT, with each third-party token backed one-for-one by shares held through a broker-dealer, the model set out in our guide to tokenized stocks. The IMF has found tokenized stocks about 1.5 times as volatile as traditional shares. The 19 Oct notice still gives no launch date.
This article is for information only and is not investment advice.