22 companies now block OKX and NYSE owner from tokenizing their shares
The OKX venture with the New York Stock Exchange's owner planned tokens for 63 US stocks, but 22 companies have already objected.
Event: October 23, 2026
Primary source: October 23, 2026
Published here: October 24, 2026 at 01:40 AM UTC
Read: 2 min
What happened
OKXICE, the joint venue of crypto exchange OKX and ICE, owner of the New York Stock Exchange, planned to trade tokens of 63 US stocks. Reuters reports six more companies, including Wells Fargo, Arm and Intuit, have objected. That makes 22 objections, Microsoft and Alphabet among them.
Why it matters to you
A stock token is a digital copy of a share on a blockchain that can trade around the clock. Under SEC rules a venue cannot list a token if the company objects. So buyers will get a shorter list than promised, and the idea is off to a slow start.
What to check and watch
Watch how many names are left by launch and when OKXICE starts trading. Nasdaq and Kraken's parent are building their own venue for next year.
On 17 September the SEC, the main US securities regulator, issued its so-called Innovation Exemption. For five years it lets new venues trade tokens of US stocks through on-chain liquidity pools without many of the requirements that apply to ordinary exchanges.
The exemption comes with conditions. The number of symbols and the trading volume are capped. A token must carry the same rights as the ordinary share, including dividends and votes. Trading stops when trading in the underlying stock stops. And if an unaffiliated third party creates the token, the venue must notify the issuer in writing and give it a chance to object.
OKX and ICE filed with the SEC earlier in October. Reuters says they planned to tokenize 63 stocks. A document the agency saw shows 22 objections. Sixteen of the companies are listed on Nasdaq and the rest on the NYSE, which ICE itself owns. The document gives no reasons. Wells Fargo and Intuit declined to comment.
Earlier objectors include Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald's, Broadcom, Verizon and UnitedHealth. OKXICE co-chair Andrew Cuomo called it a natural response: companies want to see how the experiment goes first.
Nasdaq supports tokenization in principle, but in September it warned issuers to be cautious about taking part, because such trading could fragment liquidity and hurt price discovery. At the same time Nasdaq and Payward, the parent of Kraken, are building their own tokenized stock venue for next year.
Confirmed facts
- The SEC issued its Innovation Exemption for tokenized US stock venues on 17 September 2026, for five years.[1]
- Before trading a token created by an unaffiliated third party, the venue must give the issuer written notice and a chance to object.[1]
- A token must carry the same rights as the ordinary share, and the number of symbols and trading volume are capped.[1]
- According to Reuters, OKX and ICE planned to tokenize 63 stocks through OKXICE.[2]
- In total 22 companies have objected to tokens of their shares, the latest six including Wells Fargo, Arm and Intuit.[2][3]
- Sixteen of the 22 companies are listed on Nasdaq and the rest on the NYSE.[2][3]
- Earlier objectors included Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald's, Broadcom, Verizon and UnitedHealth.[4]
- Nasdaq and Payward, the parent of Kraken, plan to launch their own tokenized stock venue next year.[2]
Implications
- ConfirmedTokens of the biggest US companies such as Microsoft and Alphabet will not be on OKXICE unless they change their minds.
- Our readingCompanies are probably waiting to see how the first launch goes, so the list could grow later.
- Our readingThe US race to put stocks on a blockchain is moving slower than the crypto industry hoped.
Still unknown
- Why exactly the companies objected: the document gives no reasons.
- When OKXICE will start trading and how many names will be left.
Who it affects
United States, Worldwide. Those who want to trade US stocks through crypto exchanges and follow tokenization
Sources
- U.S. Securities and Exchange Commission: SEC Issues “Innovation Exemption” to Facilitate the Trading of Tokenized NMS Stock and Request for Comment September 17, 2026 · official
- Reuters: Wells Fargo, Intuit latest companies to object to their shares being tokenized, document shows October 23, 2026 · media
- Cointelegraph: Wells Fargo and five others object to OKX-ICE tokenized stock listings: Report October 23, 2026 · media
- CoinDesk: OKX-ICE co-chair Andrew Cuomo calls corporate objections a 'natural response' to tokenized stock plans October 20, 2026 · media
Cover: Freekonomist graphic, a symbolic image, not a photo of the event. This is a news explainer, not financial advice.
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