Microsoft, Alphabet and Goldman Sachs Join Objections to OKX-ICE Tokenized Stock Trading

TLDR

• Microsoft, Alphabet and Goldman Sachs joined 16 companies that have objected to tokenized versions of their shares trading on OKXICE.
• OKXICE is a joint venture between crypto exchange OKX and Intercontinental Exchange, the parent of the New York Stock Exchange.
• Co-chair Andrew Cuomo called the objections a “natural response” and said more are expected.
• About 25% of the 62 proposed companies have objected, and the notices did not give reasons.
• The platform would run 24/7 on Uniswap v4 pools on XLayer, under the SEC’s five-year Innovation Exemption.

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More companies are formally objecting to having tokenized versions of their shares traded on OKXICE. The planned venue comes from crypto exchange OKX and Intercontinental Exchange, which owns the New York Stock Exchange.

BIG NEWS TODAY: OKXICE, the joint venture between @OKX and ICE (NYSE parent company), has notified the SEC of plans to launch a “Tokenized Securities Venue.”

The notice includes 60+ companies listed on US stock exchanges, which gives the issuers 30 days to opt out.

The list…

— Jacquelyn Melinek (@jacqmelinek) October 5, 2026

An updated public notice dated Oct. 19 shows seven new objectors. They are Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald’s and Western Digital.

The new names bring the disclosed total to 16 companies. Last week’s notice listed nine.

The notice does not explain the reasons for the objections. It also does not say when each company filed.

How the Proposal Works

OKXICE announced its plans on Oct. 5. It seeks to operate under the SEC’s five-year “Innovation Exemption,” which was unveiled last month.

The exemption lets qualifying venues trade tokenized U.S. stocks through automated market makers and liquidity pools. It also gives issuers a chance to object.

OKXICE’s original notice listed 63 tickers for 62 companies. Alphabet appeared twice because of its two share classes.

Fifteen of those companies have now objected. That leaves 47 with no disclosed objection, or about 25% opting out.

Cerebras Systems also objected but was not on the original trading list.

Earlier objectors included Broadcom, Verizon, UnitedHealth, CoreWeave, AppLovin, Applied Digital, Rocket Lab and Applied Optoelectronics.

The platform would run around the clock. It would use permissioned Uniswap v4 liquidity pools on XLayer.

Each tokenized stock would be paired with one of three stablecoins. These are Tether’s USDT, Circle’s USDC or Global Dollar.

Cuomo and Industry Respond

Andrew Cuomo, a former New York governor, co-chairs OKXICE and sits on the OKX board. He spoke on a press call on Tuesday.

“This is a very natural response,” Cuomo said. He said the model lets companies choose whether to opt in or opt out.

He said many companies would want to wait and see how it goes. “There will be more,” he told Cointelegraph.

Cuomo described the project as a limited test, with caps on the number of stocks and trading volume. He called it a “sandbox.”

Carlos Domingo, CEO of Securitize, said it is reasonable for issuers to ask about pricing, investor protections and shareholder rights.

Securitize recently announced 12 tokenized stocks for U.S. investors, including Microsoft and Alphabet. Their objections to OKXICE do not by themselves show opposition to that separate offering.

Dave Hendricks, CEO of Vertalo, said the 30-day objection window was built by the SEC to give companies a say. He said an objection today may become an acceptance later.