From Startup Fortune · · 1m 10s
Nine Big Companies Block OKXICE Tokenized Stocks
Nine major firms told OKXICE to stop tokenizing stocks after SEC exemption launch.
In brief
Nine major firms told OKXICE to stop tokenizing stocks after SEC exemption launch. 15 of 62 US companies objected to OKXICE's tokenized stock trading under SEC's Innovation Exemption. Originally reported by Startup Fortune.
SEC Innovation Exemption
The SEC launched a five-year framework for tokenized stocks using automated market makers and liquidity pools.
OKXICE's Tokenized Plan
OKXICE planned to launch 24/7 tokenized trading with 63 tickers representing 62 US-listed companies.
First Objections
Nine companies filed formal objections by October 15: Broadcom, Verizon, UnitedHealth, CoreWeave, AppLovin, Rocket Lab, Cerebras Systems, Applied Digital and Applied Optoelectronics.
Objection Deadline
Companies get 30 calendar days after receiving notice to object to tokenized trading under the SEC exemption.
Applied Optoelectronics' Reason
The company warned tokenization could confuse investors about its involvement in products it never sponsored or endorsed.
Big Companies' Stance
Major firms like Microsoft and Goldman Sachs said tokenization doesn't help their already liquid stocks.
Objection Impact
15 of 62 companies objected, leaving OKXICE with a smaller launch lineup than originally planned.
At a glance
15 of 62 US companies objected to OKXICE's tokenized stock trading under SEC's Innovation Exemption.
