OKX, in partnership with the Securities and Exchange Commission, has planned the listing of over 60 companies as tokenized shares. The partnership between the New York Stock Exchange—and its parent company Intercontinental Exchange—and OKX gave rise to the name OKXICE. With OKXICE, it plans to start operations using the “innovation exemption” introduced by the SEC. If a third party unrelated to the issuing company handles tokenized shares, the facility must notify the company in writing, and if there is an objection within 30 days, the stock cannot be handled.
Candidates Reached 62 Companies
The initial candidates presented by OKXICE earlier this month were 63 tickers and 62 companies. The alphabet was recorded in two types of stock classes. Of these, 15 companies have filed objections, while 47 companies have not disclosed their objections, according to Coinpost. Microsoft, Alphabet, and Goldman Sachs’ recent objections added more companies to the list.
Reactions
According to former New York governer and current OKXICE co-chair Andrew Cuomo, “this notice does not represent an expression of opposition. Some companies likened it to a situation where they stood by the pool, waiting for other participants to enter the water first and check the situation.”
The Tokenization Model
From OKXICE’s filings dated October 19, 2026: “Where a Tokenized NMS Stock available on OKXICE TSV is tokenized by a third party that is unaffiliated with the issuer of the underlying NMS stock (the “Tokenizer”), the Tokenizer, acting through a broker-dealer registered with the SEC and a member of FINRA, holds the underlying NMS stock on a one-for-one basis against the tokens outstanding. Each token represents a security entitlement to one share of the underlying NMS stock. Ownership and transfers of the entitlement are recorded on the blockchain identified under Distributed Ledger Technology below, and those records are incorporated into and reconciled with the Tokenizer’s books and records.”
Companies: Wait and See
With a novel concept, companies are therefore wary of the model. Echoed by Cuomo’s sentiment, those who have objected are in a mindset of “wait-and-see”; where in an environment created by OKXICE, being first does not necessarily equate to an advantage.
