Microsoft, Alphabet and Goldman Sachs join objections to OKX-ICE tokenized stock trading
Major corporations including Microsoft, Alphabet, and Goldman Sachs have filed objections against OKX's plan to offer tokenized stock trading. These objections pose a significant challenge to the SEC's new framework for digital asset securities.
Why it matters
The conflict highlights the friction between traditional financial institutions and the emerging crypto-based tokenized stock market.
The companies appear among seven additional objecting issuers in the joint venture’s updated public notice dated Oct. 19 . Qualcomm (QCOM), Caterpillar (CAT), McDonald’s (MCD) and Western Digital (WDC) also joined the list.
The additions bring the disclosed tally to 16 companies, up from nine in last week’s notice. The document does not explain their reasons or specify when they submitted their objections.
The growing list highlights a hurdle for the SEC’s new framework for tokenized stock trading, which was unveiled last month.
OKXICE’s original notice identified 63 tickers representing 62 companies, with Alphabet appearing through both share classes. Fifteen of those companies have now objected, leaving 47 without a disclosed objection. Cerebras Systems (CBRS), the other objecting issuer, was outside the original proposed trading roster.
Previous objectors also included Broadcom (AVGO), Verizon (VZ), UnitedHealth (UNH), CoreWeave (CRWV), AppLovin (APP), Applied Digital (APLD), Rocket Lab (RKLB) and Applied Optoelectronics (AAOI).
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