Microsoft, Alphabet and Goldman Sachs are among seven more companies that have objected to plans for tokenized versions of their shares to trade on OKXICE, a proposed venue backed by crypto exchange OKX and Intercontinental Exchange, the parent of the New York Stock Exchange.
The additions raise the number of issuers publicly identified as objecting to 16, up from nine in the previous notice. According to CoinDesk, the updated notice was dated Oct. 19 and also named Qualcomm, Caterpillar, McDonald’s and Western Digital.
The notice does not give reasons for the objections or say when the companies submitted them. That leaves the companies’ concerns unspecified, but the expanding list shows that the proposed trading platform faces resistance from several large publicly traded businesses before its planned launch.
Seven more issuers join the objections
Alphabet appears in the proposed roster through both of its share classes, GOOG and GOOGL. The other newly listed objectors are:
- Microsoft
- Goldman Sachs
- Qualcomm
- Caterpillar
- McDonald’s
- Western Digital
- Alphabet
Earlier objections came from Broadcom, Verizon, UnitedHealth, CoreWeave, AppLovin, Applied Digital, Rocket Lab and Applied Optoelectronics. Cerebras Systems is also identified as an objector, although it was not among the companies in OKXICE’s original proposed trading list.
OKXICE’s initial notice contained 63 tickers representing 62 companies. With 15 of those companies now publicly recorded as objecting—Alphabet is counted once despite having two ticker symbols—47 companies from that original group have no disclosed objection. The separate Cerebras objection brings the publicly disclosed issuer tally to 16.
The notices identify the companies that have opted out, but do not explain whether the objections concern tokenization, trading arrangements, legal issues, investor communications or another matter. No reason should therefore be inferred from the list alone.
How the proposed tokenized stock market would work
OKXICE is a planned joint venture involving OKX and ICE. It announced the proposal on Oct. 5 and is seeking to operate under the Securities and Exchange Commission’s five-year “Innovation Exemption.”
The SEC framework is designed to permit qualifying venues to offer blockchain-based versions of U.S. shares. It also allows the companies whose securities are represented to object to their inclusion. The growing number of objections is therefore directly relevant to how broad a venue operating under the framework could become.
OKXICE says it plans to offer trading around the clock, with transactions settled in stablecoins. A stablecoin is a digital token designed to maintain a relatively stable value against an underlying reference asset, commonly a fiat currency, although the source material does not specify which stablecoins the venue would use.
The proposed stock tokens would be backed one-for-one by shares. They would also carry equivalent dividend and voting rights, according to the plan. In general terms, tokenization represents an asset or an economic interest in digital form on a blockchain. The proposal would combine that format with market access beyond conventional stock-market hours.
The framework would allow qualifying venues to use automated market makers and liquidity pools. These are mechanisms commonly used in digital-asset markets to match trades and provide available liquidity without relying solely on a traditional central order book. The plan’s stablecoin settlement and continuous trading model distinguish it from ordinary stock trading, which typically follows the operating hours and settlement processes of established equity markets.
Why the issuer response matters
The objections create a practical challenge for the proposed venue because the SEC framework gives issuers a formal route to block their shares from being offered in tokenized form. If more companies object, the list of stocks available on the platform could be narrower than the original proposal indicated.
At present, the public notices do not establish whether the objecting companies oppose tokenized stocks generally or only their inclusion on this particular venue. They also do not indicate whether any objection could later be withdrawn. The available information confirms only that the companies were included among the disclosed objectors.
The issue also highlights a difference between the interests of trading platforms and share issuers. OKXICE is seeking to build a market with continuous access, blockchain-based instruments and stablecoin settlement, while issuers retain a say over whether their shares can be represented there. The outcome of that process will help determine how much of the proposed roster can move forward under the SEC’s new framework.
Moneyiar market picture
Moneyiar market data at 08:33 on Oct. 21, 2026, showed Cronos (CRO) at $0.0581290394, up 2.68% over 24 hours but down 2.61% over seven days. Alchemy Pay (ACH) was $0.0055249132, rising 3.36% in 24 hours and falling 6.66% over seven days.
Ore (ORE) traded at $127.2179781817, up 13.06% over 24 hours and 1.18% over seven days. Cat in a dogs world (MEW) was $0.0004951928, up 20.5% over 24 hours and 10.87% over seven days, according to Moneyiar data at 08:32 on Oct. 21, 2026. These figures describe crypto-asset market movements and do not indicate the status or prospects of the proposed OKXICE stock venue.
