Alphabet, Microsoft, and Goldman Sachs are among 16 companies that have formally filed notices of objection regarding the proposed tokenized stock platform from OKX and the Intercontinental Exchange. These companies represent approximately 25% of the 62 firms initially included in the project's proposal.
The joint venture, known as OKXICE, intends to offer tokenized versions of shares for more than 60 companies currently listed on US exchanges. While the specific reasons for the objections remain undisclosed, industry experts suggest concerns regarding price volatility on the new platform may be a factor.
OKXICE co-chair Andrew Cuomo stated that the notices do not necessarily represent permanent objections, framing them as companies waiting for others to test the platform's model. The venture aims to operate a 24/7 marketplace using permissioned Uniswap v4 liquidity pools on the XLayer network.
The proposed platform plans to pair each tokenized stock with one of three stablecoins: Tether USDt, Circle USDC, or Global Dollar. The joint venture recently filed its proposal with the Securities and Exchange Commission to facilitate global, round-the-clock trading.
