OKXICE, a joint venture between OKX and the Intercontinental Exchange, has filed with the SEC to launch a Tokenized Securities Venue. The platform aims to offer 24/7 trading of tokenized US NMS stocks under the SEC Innovation Exemption, with an effective date set for September 17, 2026.
The venue utilizes automated market makers and smart contract pools for pricing and order execution instead of traditional order books. Issuers are granted a 30-day window to object to the tokenization of their shares following a preliminary notice, which was filed by OKXICE on October 4, 2026.
The initial list included approximately 63 stocks. By early November 2026, the number of objecting issuers rose to between 50 and 56, representing 70% to 80% of the original list. Major corporations, including Microsoft, Alphabet, and JPMorgan, have formally filed objections.
Companies that have not objected to the tokenization of their shares are primarily crypto-related firms, including Strategy, Robinhood, Coinbase, Circle, and Securitize. These companies have not issued formal endorsements, and their silence does not guarantee their participation in the platform.
Objecting issuers expressed concerns regarding token pricing, potential liquidity fragmentation across venues, and loss of control over stock trading processes. The high volume of objections suggests a trend among public companies to resist third-party tokenization models.
