Microsoft, Google and Goldman Sachs Reject Tokenized Stock Plan
<p class="text-left mb-4 ">Microsoft, Alphabet and Goldman Sachs have objected to tokenized versions of their shares trading on OKXICE. The joint venture between <a href="https://jrkripto.com/en/exchanges/okx" target="_blank" rel="noopener noreferrer" class="text-primary underline">OKX</a> and New York Stock Exchange owner Intercontinental Exchange disclosed the additional names in its latest notice.</p><p class="text-left mb-4 ">According to OKXICE’s official notice dated October 19, the number of companies objecting has reached 16. Qualcomm, Caterpillar, McDonald’s and Western Digital also joined the list in the latest update. However, the document does not explain each company’s reasons or specify when they submitted their objections.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Seven more companies join the objection list</h2><p class="text-left mb-4 ">The platform’s October 15 notice listed nine companies. Cerebras Systems, AppLovin, Applied Digital, Rocket Lab and CoreWeave were among them. Verizon, Applied Optoelectronics, Broadcom and UnitedHealth also appeared in that notice.</p><p class="text-left mb-4 ">Seven more companies therefore joined the list during the four days between the two notices. The new names span banking, industrial equipment and restaurants, alongside technology. AI infrastructure and technology companies featured prominently in the earlier list.</p><p class="text-left mb-4 ">Microsoft, Alphabet and Goldman Sachs appear in the consolidated notice published by the platform. However, the document does not explain their broader positions on tokenization technology. Their objections therefore do not establish that they reject every model of tokenized stock trading.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The 63 tickers represent 62 companies</h2><p class="text-left mb-4 ">Comparing the original trading roster with the objection list reveals an important distinction. OKXICE’s October 4 document contains 63 tickers representing 62 companies. Alphabet appears twice, under GOOG and GOOGL.</p><p class="text-left mb-4 ">The same document separately records Cerebras’s objection. However, Cerebras does not appear on the original 63-ticker trading roster. The claim that “17 companies withdrew from the 63 tokenized stocks” therefore conflates two separate lists.</p><p class="text-left mb-4 ">The current objections cover 16 companies and 17 tickers in total. Of those, 15 companies and 16 tickers appear on the original roster. Comparing the lists shows that 47 companies on the initial roster have no disclosed objection so far. That does not mean those companies have explicitly endorsed the platform.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The platform plans to bring stocks onto the blockchain</h2><p class="text-left mb-4 ">OKXICE aims to bring retail and institutional investors together on a single tokenized securities platform. ICE and OKC USA each hold a 50% stake in the joint venture.</p><p class="text-left mb-4 ">The platform plans to use permissioned Uniswap v4 liquidity pools on X Layer. Users will be able to trade tokenized stocks against supported stablecoins through these pools. The system will use an automated market maker model instead of the order books found on traditional exchanges.</p><p class="text-left mb-4 ">Participation requires identity verification, sanctions screening and wallet checks. Operating on a blockchain therefore does not mean anyone can trade without restrictions. The platform will grant access only to wallets that complete the required checks.</p><p class="text-left mb-4 ">The model also requires one-to-one backing by underlying shares. The initial notice requires investors to retain equivalent shareholder rights, including dividends and voting rights. The tokenization provider will hold the underlying shares through a registered broker-dealer.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The official notice does not mean SEC approval</h2><p class="text-left mb-4 ">OKXICE plans to operate under a temporary exemption framework from the U.S. Securities and Exchange Commission. However, the platform’s official document sets out important limits to its regulatory status.</p><p class="text-left mb-4 ">According to the document, OKXICE is not registered with the SEC for activities covered by the exemption. The SEC has also not endorsed the merits or accuracy of the disclosures. The platform further states that it will not be subject to Regulation NMS, which governs the traditional U.S. stock market.</p><p class="text-left mb-4 ">SEC oversight nevertheless remains in place. The notice explicitly states that operating outside the exemption’s conditions could lead to regulatory enforcement action.</p>
