Key facts
- Apple and Meta Platforms were among 11 companies added to the objecting list in OKX-ICE's notice dated Thursday.
- The total number of companies objecting to the tokenized stock venue reached 67.
- Coinbase, Robinhood and Strategy do not appear on the objection list, the report said.
- An objection within 30 days bars a venue from listing a third-party tokenized version of a company's stock, per the SEC order.
All seven companies in Wall Street's "Magnificent Seven" group have objected in writing to OKX-ICE's plan to list third-party tokenized versions of their shares. Apple and Meta Platforms were among 11 companies added to the objecting list in an updated notice dated Thursday, according to a Decrypt report. They join Microsoft, Alphabet, Amazon, Nvidia and Tesla, bringing the total number of objecting companies to 67. The other new objectors were Home Depot, Boeing, GE Vernova, Palantir, ServiceNow, S&P Global, KLA, Super Micro Computer and Nebius Group.
Apple had been one of the last megacaps absent from the list after Amazon, Tesla and SpaceX objected in the venue's November 2 notice, when the tally stood at 56. The first objectors appeared on October 15, when the count was nine.
Under the SEC's innovation exemption, which the agency 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.
OKXICE TSV is a 50-50 joint venture between NYSE owner Intercontinental Exchange and OKX's U.S. holding company. It plans to offer tokenized US stocks 24/7 through permissioned pools on OKX's XLayer blockchain, with an outside "tokenizer" holding real shares one-for-one through a registered broker-dealer.
Crypto-friendly public companies such as Coinbase, Robinhood and Strategy do not appear on the objection list. Coinbase launched tokenized stocks for non-US users on its Base network in August. Berkshire Hathaway, Visa and Exxon Mobil are also absent from the list. The report says it is unclear whether OKXICE notified those companies.