Tokenized Stock Venture From OKX and the NYSE Owner Struggles as Blue Chip Issuers Say No

OKX and Intercontinental Exchange, the company behind the New York Stock Exchange, want to launch a blockchain market where US shares trade all day and night with stablecoin settlement. It would run under the SEC’s five year Innovation Exemption, which permits automated market makers, meaning software that trades against pools of assets instead of matching orders in a book. The plan is now meeting pushback from the companies it hoped to feature. A public notice dated Nov. 5 shows 67 issuers have refused so far, including Apple, Meta, Palantir, S&P Global, KLA and Super Micro Computer. Home Depot, GE Vernova, Nebius, Boeing and ServiceNow objected earlier in the week.

Which Companies Have Not Objected

Crypto Linked Firms Still Standing

Of the 62 firms first selected, 56 have said no, roughly 90%, and 11 more refusals came from outside that group. Those with no disclosed objection are Strategy, Coinbase, Circle and Robinhood. Securitize and BitGo are also absent from the list and had said earlier that they would not object. Their decisions may shape what investors can actually buy on the platform.

Notice Periods and Disclosure Delays

Issuers have 30 calendar days after notice to stop an unaffiliated party from tokenizing their shares. Venues can take up to five business days to post objections, so the public list may lag behind real decisions.

Rival Venue and Cuomo’s Response

Canton based TSV already went live this week with shares of Canton Strategic Holdings, using an issuer sponsored route that skips the objection process. OKXICE co-chairman Andrew Cuomo, a former New York governor, said outside companies have approached the venture about joining, though he named none and gave no count. He believes growing familiarity with the market will bring more issuers on board.