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OKX-ICE Tokenization Plan Faces Objections From Dozens of Companies
Companies cited price effects, liquidity, and volatility, while others questioned custody and shareholder rights in tokenized stocks.
Dextape brief
Sixty-two publicly traded companies have objected to OKX and ICE tokenizing their shares, according to the report. The newest objectors are Boeing, AI infrastructure provider Nebius and ServiceNow. The proposal came after the SEC created a temporary exemption, letting certain venues handle resale of tokenized American equities. Objectors include JPMorgan, Goldman Sachs, Coca-Cola, Walmart, Tesla, Amazon and Netflix, and some issuers are concerned about share prices and liquidity. Figure CEO Mike Cagney argued that an automated market maker cannot match orders as a limit order book does. Morgan Stanley, by contrast, tokenized US equities and Treasuries through DTCC, with 34 securities that went live October 28.
Why it matters: The dispute shows that many listed companies are unwilling to have their stock tokenized through third-party venues, a key question for crypto readers following tokenized equities.
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