SEC tokenized stock framework faces issuer pushback as Broadcom, Verizon object to OKX-ICE listing
Several major corporations, including Broadcom and Verizon, have formally objected to the listing of their shares on the OKX-ICE tokenized stock trading platform. The platform, which operates under an SEC innovation exemption, aims to offer 24/7 trading of tokenized U.S. stocks.
Why it matters
This pushback highlights the friction between traditional equity issuers and new blockchain-based trading venues regarding market transparency and regulatory standards.
Eight newly disclosed objections appeared in an October 15 public notice from OKXICE, the joint venture between crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange (ICE) preparing to offer tokenized stock trading.
Alongside Broadcom, Verizon and UnitedHealth, the notice names AppLovin (APP), Applied Digital (APLD), Rocket Lab (RKLB), CoreWeave (CRWV) and Applied Optoelectronics (AAOI).
It lists nine objecting issuers in total, including AI chipmaker Cerebras Systems (CBRS), which formally opted out of being listed earlier. The update did not disclose why the companies objected or when they submitted their notices.
Nasdaq (NDAQ) has separately said it would opt out of having its own shares tokenized under the framework, according to an FAQ on its website .
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