Apple and Meta Platforms are among the latest companies to object to OKX-ICE’s planned tokenized stock venue, according to an updated notice dated Thursday. With their addition, all seven members of the “Magnificent Seven” group of tech giants—Microsoft, Alphabet, Amazon, Nvidia, Tesla, Apple, and Meta—have now opted out.
The updated notice from OKXICE TSV added 11 companies to the objection list, bringing the total to 67. Besides Apple and Meta, the new objectors are Home Depot, Boeing, GE Vernova, Palantir, ServiceNow, S&P Global, KLA, Super Micro Computer, and Nebius Group.
Background on the objections
Under the SEC’s innovation exemption, unveiled in September after the Clarity Act failed to advance in the Senate, a venue must notify a company before offering a version of its shares tokenized by an unaffiliated third party. If the company objects in writing within 30 days, the venue cannot make that stock available for trading, according to the SEC’s order. The objection applies only to that venue.
The list of objectors has grown steadily. The first nine companies appeared on Oct. 15. By the Nov. 2 notice, the tally had reached 56 after Amazon, Tesla, and SpaceX objected. Apple had been one of the last megacaps missing from the list until the latest update.
Who hasn’t objected
Notably absent from the objection list are crypto-friendly public companies such as Coinbase, Robinhood, and Strategy. Coinbase launched tokenized stocks for non-U.S. users on its Base network in August. Berkshire Hathaway, Visa, and Exxon Mobil are also absent. It is unclear whether OKXICE notified those companies.
Meta’s objection carries some irony: the Facebook parent once tried to launch its own stablecoin, Libra, later renamed Diem, before abandoning the project in 2022 amid regulatory pushback.
What’s next for the venue
OKXICE TSV, a 50-50 joint venture between NYSE owner Intercontinental Exchange and OKX’s U.S. holding company, plans to offer tokenized U.S. stocks 24/7 through permissioned pools on OKX’s XLayer blockchain. An outside “tokenizer” would hold real shares one-for-one through a registered broker-dealer.
With the market’s biggest names opted out, it is unclear which major stocks the venue will be able to offer at launch, and its notices do not list the tokens it plans to make available.
