Walmart, Microsoft, Alphabet, and JPMorgan Chase are among 38 companies that have objected to third-party tokenized versions of their shares trading on OKXICE. The venue, backed by an Intercontinental Exchange subsidiary and OKC USA, received these objections within the mandatory 30-day window provided under the SEC framework for unaffiliated third-party token trading.
Initial reports on October 24 identified 16 objectors, but the final notice issued on October 28 expanded the list to 38 issuers. This widespread rejection prevents the tokens from trading on the platform, blocking a launch that was expected as early as November 2 for other sponsored arrangements and halting OKXICE’s expansion plans for secondary trading on the XLayer blockchain.
Key facts
- The October 28 notice lists 38 issuer objections, including major corporations like Walmart, Microsoft, and JPMorgan.
- Issuers utilized the 30-calendar-day objection window to prevent unaffiliated third-party token trading on the venue.
- Trading on OKXICE was expected as early as November 2 but is now blocked due to these filed objections.
- Initial reports on October 24 cited 16 objectors before the final count rose to 38.
- OKXICE is a separate venue from the NYSE, proposing secondary trading through automated liquidity pools.
Why it matters
The 38 objections leave OKXICE with an issuer-participation challenge alongside its technology plans, forcing a practical test of whether broader access can offer companies enough value to accept pricing and recordkeeping trade-offs.