WiremarketsBrief
Apple and Meta Push Back Against OKX–ICE Stock Plans
The race to bring traditional stocks onto blockchain networks is facing a significant setback after Apple and Meta joined a growing list of companies rejecting plans to tokenize their shares through a new venture backed by crypto exchange OKX and Intercontinental Exchange (ICE).
Brief
Apple and Meta have joined a growing number of companies objecting to a plan by crypto exchange OKX and Intercontinental Exchange (ICE) that would bring blockchain-based copies of their listed shares to market. Reports say 67 companies have now objected, including 56 of the 62 firms first chosen for the venue, about 90 percent of that initial list. Recent objectors also include Palantir, S&P Global and Super Micro Computer. The venture plans round-the-clock trading of tokenized US-listed stocks settled in stablecoins, under the SEC's five-year Innovation Exemption. Strategy, Coinbase, Circle, Robinhood, Securitize and BitGo have no public objection, though the article notes that this is not automatic approval. OKX-ICE co-chairman Andrew Cuomo has suggested companies may grow more comfortable with tokenization over time.
Why it matters: Widespread objections from established issuers could leave the planned marketplace dominated by crypto-linked firms, shaping whether mainstream companies join blockchain-based equity trading.
Read the full story
Dextape context
Built from Dextape’s own wire, stories and glossary.
Terms in this story
- Blockchain
- A shared, ordered record of transactions, grouped into blocks, that independent computers check against the same protocol rules.