A joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has faced a complete rejection of its initial stock
A joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has faced a complete rejection of its initial stock tokenization plan.
The project aimed to create a 24/7 blockchain-based trading platform for dozens of major US stocks. It operated under a five-year innovation exemptionintroduced by the US Securities and Exchange Commission (SEC) in September.
Another three issuers objected today:
Nebius Boeing ServiceNow
That brings the total to 62. Boeing and ServiceNow were on OKXICE’s original list. Nebius was not.
In total, 54 of the 62 companies originally proposed have now objected.
— Eleanor Terrett (@EleanorTerrett) November 5, 2026
However, SEC guidelines gave targeted companies 30 days to object to having their shares represented on the platform. All 62 companies on the proposed list used this opportunity to reject the plan, resulting in a 100% opt-out rate.
The final objections came from Nebius Group, Boeing, and ServiceNow. They joined companies that had already rejected the proposal, including financial giant JPMorgan Chase and major technology companies such as Microsoft, Amazon, and Nvidia.
Read also: SEC Looks at New “Innovation Rule” for Tokenized Stocks With Strict Limits
The widespread rejection highlights a change in how traditional companies view blockchain-based financial products.
Alphax_DEX ambassador @Zorvenss pointed out the difference between corporate attitudes in 2021 and 2026. In 2021, companies were eager to get listed on platforms to benefit from growing interest in crypto. However, in 2026, 62 major corporations actively rejected plans to tokenize their shares without permission.
@Cointelegraph Issuers in 2021: please list us anywhere. Issuers in 2026: 62 of them objecting to being tokenized without asking.
Consent is going to be the real fight in tokenized stocks.
— Zorven (@Zorvenss) November 5, 2026
This suggests that corporate consent will play a major role in determining the future of tokenized stocks. Without the involvement and approval of the underlying company, a tokenized stock may lack the structure and legitimacy of an actual company share.
Another commenter, Mr Falcon, said the large number of rejections was the most important part of the development. He argued that tokenized stocks can only work properly when the companies behind them support the arrangement.
@Cointelegraph 62 issuers saying no is the story. tokenized stocks only work if the companies are in on it, otherwise it’s a derivative with extra steps
— MrFalcon (@Mr_falconx) November 5, 2026
Read also: OKX Launches Unified Market for 40+ Tokenized US Stocks and ETFs
Company executives also raised concerns about how continuous, decentralized trading could affect their stock prices, liquidity, and market volatility.
There were also unanswered questions about asset custody and how traditional corporate rights would work on the blockchain. These include dividend payments and shareholder voting rights.
A relationship coach and AI enthusiast, @Menghung, described the development as more than a failed financial experiment. According to the user, 62 coordinated objections have turned the proposal into a broader conflict over who controls how company shares are represented and traded.
Menghung also argued that companies do not want external platforms deciding how their shares should be presented in financial markets.
@Cointelegraph 62 objections and counting — at some point tokenizing shares stops being an experiment and starts being a standoff. The issuers clearly don’t want someone else setting the terms.
— Uncle Meng (@menghung741209) November 5, 2026
Pressure from traditional stock exchanges has also contributed to the resistance. Reports indicate that Nasdaq encouraged its listed companies to use the SEC’s 30-day objection period to reject the OKX-ICE proposal.
This response highlights the growing tension between traditional financial institutions and cryptocurrency platforms over the future of tokenized securities. Traditional finance may be willing to adopt blockchain technology, but it still wants to maintain control over how the technology is used.
For the OKX-ICE initiative, the rejection by all 62 targeted companies demonstrates the difficulty of bringing traditional equities onto blockchain networks without corporate approval. It also shows that the expansion of tokenized stocks will depend not only on technology and market demand but also on the willingness of companies and existing financial institutions to participate.
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The post All 62 Companies Reject OKX and ICE Tokenized Stock Plan appeared first on DeFi Planet.
