Nine companies, including Verizon, Broadcom and UnitedHealth Group, have objected to their shares being offered on OKXICE TSV, a planned tokenized-stock venue backed by crypto exchange OKX and Intercontinental Exchange, the owner of the New York Stock Exchange.
The objections expose a central challenge for efforts to move U.S. equities onto blockchains: the companies whose shares would underpin the tokens may not want to participate. An Oct. 15 public notice from OKXICE listed the nine issuers, but did not explain their reasons or say whether their objections would prevent their shares from appearing on the platform. The development was reported by Decrypt.
Which companies have objected
The issuers named in the notice are Verizon, Broadcom, UnitedHealth Group, Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave and Applied Optoelectronics.
OKXICE TSV is still a planned venue rather than an established public market. It is intended to allow tokenized versions of U.S. stocks to trade around the clock. The project is being developed by OKX and Intercontinental Exchange, commonly known as ICE, which owns the NYSE.
The notice does not indicate whether the listed companies’ objections are legally binding, whether they will lead to the removal of the stocks, or whether the platform can proceed with tokens linked to those companies. It also provides no explanation from the issuers for their decisions.
Nasdaq raises market-structure concerns
Nasdaq, which was not included among the nine objecting issuers, has separately said that its own shares will opt out of the Securities and Exchange Commission’s innovation exemption.
A Nasdaq spokesperson told The Wall Street Journal that the exchange operator does not want its stock trading on a venue that does not display the best available prices in real time or report transactions to the consolidated tape. The consolidated tape is the system used to collect and distribute trade information across U.S. equity markets.
Nasdaq’s position is notable because the exchange received SEC approval earlier this year for its own tokenized-securities pilot. That contrast highlights the difference between supporting experiments with blockchain-based securities and accepting trading on a venue with a different set of market-disclosure and execution requirements.
How the proposed venue would work
OKXICE TSV is described as the first major test of the SEC’s innovation exemption. The agency introduced the framework in September after the Clarity Act stalled in the Senate. Under the exemption, qualifying platforms can trade tokenized U.S. stocks without registering as traditional exchanges.
The proposed venue would operate 24 hours a day, using Uniswap v4 liquidity pools on OKX’s XLayer blockchain. Trades would be settled in stablecoins, including USDC and USDT. Stablecoins are digital tokens designed to maintain a stable value relative to an underlying reference, such as the U.S. dollar.
The companies whose shares are represented would not create the tokens themselves. Instead, a third-party “tokenizer” would hold the corresponding actual shares on a one-for-one basis through a registered broker-dealer. According to the notice, token holders would be entitled to the same dividends and voting rights as holders of ordinary shares.
However, the arrangement would not provide all the protections associated with registered U.S. equity venues. OKXICE says it is not registered with the SEC and is not subject to Regulation NMS, the rules intended in part to help investors receive the best displayed prices. The venue would also not be required to provide fair access to every market participant.
Trading would be limited to a small portion of each stock’s normal volume. The notice further says administrators could upgrade the platform’s smart contracts without giving users advance notice. Smart contracts are blockchain-based software programs that automatically implement specified transactions and rules.
Demand meets unresolved questions
OKX and ICE first partnered on tokenized securities earlier this year and announced the 24/7 venue this month. The project is aimed at extending access to stock trading beyond the operating hours of traditional exchanges, while using blockchain infrastructure for issuance, trading and settlement.
The International Monetary Fund has recently found demand for tokenized stocks, particularly outside normal market hours. At the same time, it warned that the market remains volatile and illiquid. Those conditions, combined with issuer objections and concerns about real-time pricing and trade reporting, leave important questions around how tokenized shares will connect to established U.S. market rules.
Moneyiar market picture
Moneyiar data at 2026-10-19 22:24:00 +03:30 showed Uniswap (UNI) at $7.330009376, up 3.18% over 24 hours and 1.6% over seven days. Compound (COMP) was $21.6424179573, up 2.82% over 24 hours but down 8.38% over seven days.
Altlayer (ALT) stood at $0.0091706539, with gains of 5.05% over 24 hours and 14.6% over seven days. ShareX (SHARE) was $2.5704369209, up 0.05% in 24 hours and 6.02% over seven days.
