Walmart, Eli Lilly, Cigna Group, Carnival, and Arcos Dorados have joined a growing list of companies objecting to the launch of their shares on OKXICE TSV, the tokenized stock trading venue operated as a joint venture between Intercontinental Exchange and OKX's U.S. holding company. The five additions bring the total number of objecting companies to 38.
The objections have accelerated rapidly. The venue reported nine objections on Oct. 15, which climbed to 16 by Oct. 19, 22 by Oct. 23, 33 by Oct. 27, and 38 as of Oct. 28. Early objectors included Microsoft and Wells Fargo from the tech and finance sectors, followed by McDonald's from retail. The latest wave broadens opposition across healthcare, travel, and international franchising.
Under the SEC's innovation exemption announced in September, companies can block a tokenized venue from offering third-party versions of their stock by filing a written objection within 30 days of receiving notice. Once filed, the objection prevents that specific venue from listing the stock, though the objection does not apply to other venues or to tokenized versions issued directly by the company itself.
OKXICE TSV plans to enable approved users to trade tokenized U.S. stocks on a 24/7 basis. Trades would execute through permissioned Uniswap v4 pools on OKX's XLayer blockchain, using stablecoins such as USDC. The SEC has capped the venue at up to 75 of the largest, most liquid stocks, with trading limited to 0.25% of each stock's average daily volume, and up to 250 additional stocks at 2.5%.
Several major publicly traded companies have not yet filed objections, leaving open the possibility that additional firms will do so before the 30-day objection window closes for each company.
