The number of publicly listed companies protesting the inclusion of the tokenized version of their stocks on the OKXICE TSV has risen to 33 as per the Oct. 27 public notice. OKXICE TSV is a p
The number of publicly listed companies protesting the inclusion of the tokenized version of their stocks on the OKXICE TSV has risen to 33 as per the Oct. 27 public notice.
OKXICE TSV is a proposed tokenized stock trading platform created by OKXICE, a 50-50 joint venture between the New York Stock Exchange parent Intercontinental Exchange (NYSE: ICE) and the crypto exchange OKX.
What are tokenized stocks? Why do they matter? (12:22)Tokenization is the process of using blockchain technology to turn real‑world assets (RWAs) such as stocks, real estate, government bonds, etc. into digital tokens which can be traded fractionally, 24/7.
While these tokens offer traders from outside the U.S. indirect exposure to the U.S. stock market, they don't offer shareholder rights such as ownership, voting, etc., like original stocks do.
The Securities and Exchange Commission's (SEC) innovation exemption published last month lets platforms like OKXICE offer tokenized U.S. stocks without registering as exchanges. But several leading American companies have objected to the plan.
These companies span across industries such as technology, finance, and food and beverage and have market capitalization worth billions of dollars:
The combined market cap of all the companies objecting to the OKXICE tokenized stock plan exceeds $17 trillion at the time of writing.
62 companies were initially named in OKXICE's tokenized stock plan, but more than half of them have objected to it so far.
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