Overview
- OKXICE's Oct. 19 public notice showed 16 companies had objected to tokenized trading, a move that removed at least 17 tickers from the venture's original 63-stock roster.
- The SEC's five-year Innovation Exemption gives issuers a 30-calendar-day right to opt out, and companies used that mechanism to stop unauthorized token versions of their shares.
- OKXICE proposes permissioned Uniswap v4 automated market maker pools on OKX's XLayer blockchain, with trades settled in stablecoins such as USDC and USDT and tokens claimed to be backed one-for-one by underlying shares.
- Issuers and market participants cited specific concerns about pricing, on-chain liquidity, custody, shareholder rights, consolidated-tape reporting, and how token trades would sync with regular cash markets.
- OKXICE co-chair Andrew Cuomo called the objections an expected part of the sandbox and the venue updated its filing to allow issuer-sponsored tokenizations, but rival exchanges' opt-outs and gaps in market infrastructure make wider adoption uncertain.