OKXICE faces objections from 9 companies over stock tokens

Nine companies have formally objected to plans by OKXICE to offer tokenized versions of their shares, preventing the proposed trading platform from listing those securities under a new U.S. regulatory exemption. Summary Nine companies have objected to tokenized trading of their shares on OKXICE’s proposed U.S. platform. Broadcom, CoreWeave, Verizon and UnitedHealth appear among the companies named in the October 15 notice. SEC rules give companies 30 days to reject third-party stock tokenization on a specific trading venue. OKXICE plans round-the-clock trading through Uniswap v4 liquidity pools on the XLayer blockchain network. The joint venture is owned equally by ICE and an OKX affiliate, according to company disclosures. In an October 15 notice, OKXICE identified Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon Communications, Applied Optoelectronics, Broadcom and UnitedHealth Group as companies that had submitted objections. The objections affect the joint venture’s planned Tokenized Securities Venue (TSV), which intends to offer blockchain-based trading of U.S. stocks around the clock. Under the Securities and Exchange Commission’s September 17 exemp...