Microsoft, Alphabet and Goldman Sachs join objections to OKX-ICE tokenized stock trading

Microsoft MSFT$531,71·Mercato chiuso, Alphabet (GOOG, GOOGL) and Goldman Sachs (GS) have objected to having tokenized versions of their shares traded on OKXICE, adding to issuer resistance against the planned stock-trading venue from crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange (ICE).

The companies appear among seven additional objecting issuers in the joint venture’s updated public notice dated Oct. 19. Qualcomm (QCOM), Caterpillar (CAT), McDonald’s (MCD) and Western Digital (WDC) also joined the list.

The additions bring the disclosed tally to 16 companies, up from nine in last week’s notice. The document does not explain their reasons or specify when they submitted their objections.

The growing list highlights a hurdle for the SEC’s new framework for tokenized stock trading, which was unveiled last month.

OKXICE’s original notice identified 63 tickers representing 62 companies, with Alphabet appearing through both share classes. Fifteen of those companies have now objected, leaving 47 without a disclosed objection. Cerebras Systems (CBRS), the other objecting issuer, was outside the original proposed trading roster.

Previous objectors also included Broadcom (AVGO), Verizon (VZ), UnitedHealth (UNH), CoreWeave (CRWV), AppLovin (APP), Applied Digital (APLD), Rocket Lab (RKLB) and Applied Optoelectronics (AAOI).

OKXICE announced its plans on Oct. 5, seeking to operate under the SEC’s five-year “Innovation Exemption.” The framework allows qualifying venues to trade tokenized U.S. stocks through automated market makers and liquidity pools, while giving issuers an opportunity to object.