Overview
- OKXICE disclosed on Oct. 30 that 50 public companies, including Nvidia, Nike, Costco, Micron and Reddit, filed timely objections that bar third‑party tokenized versions of their shares from trading on its proposed venue.
- The objections use a 30‑day notice-and-objection right created by the SEC’s Sept. 17 Innovation Exemption, and a valid objection prevents that specific venue from listing the company’s tokenized stock.
- OKXICE’s design would run 24/7 trading on OKX’s XLayer blockchain through permissioned Uniswap v4 liquidity pools with stablecoin settlement and the venue says it will not custody tokens or customer assets.
- Regulatory limits and unresolved operational questions have constrained the plan: the SEC caps daily token trading volumes, token trading must halt when the cash stock is halted, and firms have raised concerns about custody, trade reporting and price alignment with cash markets.
- Nasdaq is building an issuer-led tokenization alternative with Kraken for 2027 and reports that Nasdaq representatives urged some companies to opt out, a dynamic that could shift tokenization toward company‑controlled approaches and change how investors access tokenized shares.