Walmart has objected to the planned listing of its shares on OKXICE TSV, a tokenized-stock trading venue being developed by crypto exchange OKX and Intercontinental Exchange, the owner of the New York Stock Exchange.
The retailer was one of five companies added to the venue’s objection list in an October 28 notice. Eli Lilly, Cigna Group, Carnival and Arcos Dorados also filed objections, taking the total number of companies seeking to keep their shares off the platform to 38.
According to Decrypt, the list has expanded rapidly since the venue first identified nine objecting companies on October 15. It rose to 16 on October 19, including Microsoft, and reached 22 on October 23 after Wells Fargo joined. The total then increased to 33 before the latest five additions.
The growing list indicates that resistance now spans several major parts of the US stock market. The companies involved include businesses in technology, financial services, retail, health care and travel. Arcos Dorados, the largest McDonald’s franchisee in Latin America, joins McDonald’s on the list. Eli Lilly and Cigna add to a health-care group that already includes UnitedHealth Group and Moderna.
Why the objections matter
The companies’ objections can prevent their shares from being offered through this particular venue. The mechanism comes from an innovation exemption introduced by the US Securities and Exchange Commission in September, after the Clarity Act stalled in the Senate.
Under the SEC order, a trading venue must notify a company before offering a tokenized version of its stock that has been created by an unaffiliated third party. The company then has 30 days to submit a written objection. If it does so within that period, the venue cannot make that stock available for trading.
The protection is venue-specific. An objection to OKXICE TSV does not, based on the order described in the source material, block a company’s shares from appearing in other tokenized-stock markets. The notices also do not explain why the companies objected.
Tokenized shares are digital representations linked to stocks and recorded or traded using blockchain infrastructure. The proposed venue would allow approved users to trade tokenized US stocks around the clock, rather than only during standard exchange hours. The project therefore sits at the intersection of traditional equities and digital-asset markets.
How OKXICE TSV is designed to work
OKXICE TSV is a 50-50 joint venture between Intercontinental Exchange and OKX’s US holding company. OKX and ICE began working together on tokenized securities earlier in the year and announced the 24-hour trading venue this month.
The planned transactions would take place through permissioned Uniswap v4 pools on OKX’s XLayer blockchain. The trades would be paired with stablecoins such as USDC. Stablecoins are digital tokens intended to maintain a stable value relative to a reference asset, commonly a fiat currency.
The SEC exemption sets limits on the venue’s planned universe and activity. It permits up to 75 of the largest and most liquid stocks, with trading capped at 0.25% of each stock’s average daily volume. The venue may also include as many as 250 other stocks, with trading in those names limited to 2.5% of average daily volume.
Those limits are intended to define the scale of activity permitted under the exemption. They do not change the effect of a timely objection: a company that objects within the required period cannot have an unaffiliated third-party tokenized version of its stock listed on this venue.
More companies could still object
The list may grow further because companies have 30 days from receiving notice to respond. Several of the market’s most heavily traded names—including Nvidia, Tesla, Apple and Amazon—had not objected as of the source material’s report.
OKXICE TSV has also said it could list shares tokenized directly by the issuers themselves. Such an arrangement would give a company control over how its stock is represented on the blockchain. The notices available so far do not identify any issuer-created listings.
The expanding objections create an early test for the proposed model. OKX and ICE are seeking to build a regulated route for round-the-clock trading of tokenized US stocks, while companies retain the ability to stop third-party versions of their shares from appearing on the venue. The outcome will depend partly on how many additional companies respond before their 30-day windows expire.
Moneyiar market picture
Moneyiar data as of October 25, 2026, shows mixed performance among the listed digital assets:
- AI Rig Complex (ARC) was priced at $0.0594624188, down 3.6% over 24 hours but up 46.65% over seven days.
- Walrus (WAL) was priced at $0.0343190471, down 0.3% over 24 hours and 11.97% over seven days.
- DAPPOS (DOS) was priced at $0.264193564, up 3.34% over 24 hours and 44.72% over seven days.
- ADI (ADI) was priced at $8.0409971161, down 0.27% over 24 hours and 2.6% over seven days.
