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JPMorgan Chase, Coca-Cola, Dell Technologies and four other companies have objected to being included in OKXICE’s proposed tokenized-stock trading venue. The updated notice brings disclosed objections to 33; 30 of the 62 companies on the original roster have objected, according to CoinDesk’s tally.
JPMorgan Chase, Coca-Cola and Dell Technologies are among seven companies newly listed as objecting to their inclusion on a planned OKXICE tokenized-stock trading venue, according to an updated public notice dated Oct. 27. The additions bring disclosed objections to 33; 30 of the 62 companies originally proposed for trading have objected, or about 48%, based on CoinDesk’s tally.
The notice names seven newly disclosed objectors: JPMorgan Chase, Coca-Cola, Dell Technologies, Applied Materials, Adobe, Sandisk and another company identified in the report as part of the group. The report’s text repeats Dell Technologies in its list and does not clearly identify a seventh distinct name, so the total of seven additions is attributed to the notice and CoinDesk’s account rather than inferred from that list. The updated count rises from 26 objections in Monday’s notice to 33.
Of those 33 disclosed objections, 30 came from the original 62-company roster. The remaining objections included companies that were not on the filing’s original list, according to CoinDesk. The count reflects companies that objected to being included; it does not establish that all companies not objecting have agreed to participate.
JPMorgan said it remains interested in tokenization but will not participate in this venue at this stage. The bank’s spokesperson said the company wants to consider how its shares are represented and traded and will continue evaluating opportunities as the market develops. The report did not provide statements from Coca-Cola, Dell or the other newly listed companies explaining their objections.
Issuer Objections Test the Venue
The notice lists objections from companies whose shares were included in the proposed venue. Of the 62 companies on the original roster, 30 have objected, according to CoinDesk’s tally. The available information does not establish how many companies will ultimately be offered for trading or whether the venue can proceed with a narrower roster.
For investors and market participants, the distinction between a token tied to a company’s stock and the stock itself may be relevant. Issuers may seek clarity on how their shares are represented and traded, while traders would need to understand the structure, settlement arrangements and applicable protections. JPMorgan’s statement raises these matters without identifying a specific concern about the platform.
Regulatory permission to test a market structure does not establish that companies have agreed to participate. Issuer participation is a separate decision, and the notice process provides companies an opportunity to object to their inclusion.
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How OKXICE Proposed the Trading
OKXICE is a joint venture between crypto exchange OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange. It issued its initial notice on Oct. 4, outlining a plan for round-the-clock trading in tokenized stocks through Uniswap v4 liquidity pools on OKX’s XLayer blockchain. The proposed transactions would be settled in stablecoins.
The report says the venue plans to operate under the SEC’s five-year “Innovation Exemption,” a framework allowing qualifying platforms to test blockchain-based stock trading using automated market makers. Companies have 30 days after notification to object to their inclusion, according to the report. The notice and exemption describe a proposed, limited test; they do not show that all named companies have consented or that every operational detail has been settled.
OKXICE co-chairman Andrew Cuomo previously characterized the SEC framework as a limited experiment and said some companies were expected to wait to see how the market develops. The report quoted him describing it as “a sandbox—a model demonstration.”
““a sandbox—a model demonstration.””
— Andrew Cuomo, OKXICE co-chairman, as previously quoted by CoinDesk
Participation and Venue Details
The objections establish that the named companies do not want to be included under the current notice, but they do not show whether each company will reject future tokenization arrangements. JPMorgan explicitly said it will continue evaluating opportunities; the report supplies no comparable explanation from Coca-Cola, Dell or the other newly listed objectors.
It is also unclear how OKXICE will respond to the objections, which companies it expects to include in any eventual offering, or whether the venue’s planned structure will change. The reported 30-of-62 figure is CoinDesk’s tally of objections among the original roster, not a measure of final participation or trading activity. The source does not report a launch date or confirm that the platform has begun trading.
Next Steps for OKXICE
The immediate next step is for OKXICE to address the objections and clarify which companies, if any, will appear in its proposed venue. The report does not state whether the joint venture plans to revise its roster, respond publicly to the latest notice or seek further company engagement.
Further updates may clarify issuer participation, the status of the SEC framework and the planned trading and settlement arrangements. Until then, the Oct. 27 notice records objections, while the platform’s final roster, launch timing and operating details remain unconfirmed in the available report.
Key Questions
Which companies were newly listed as objecting?
JPMorgan Chase, Coca-Cola, Dell Technologies, Applied Materials, Adobe and Sandisk are named in the report’s list. The report says there were seven new additions, but its text repeats Dell and does not clearly identify a seventh distinct company.
How many companies have objected?
The updated notice brings disclosed objections to 33. CoinDesk’s tally says 30 of the 62 companies originally proposed for trading have objected.
Does JPMorgan oppose tokenized stocks generally?
Not according to its spokesperson’s statement to CoinDesk. JPMorgan said it remains encouraged by tokenization’s potential, declined to participate in this venue at this stage and will keep evaluating opportunities.
Has OKXICE started trading tokenized stocks?
The source describes a planned venue and does not report that trading has begun. It also does not provide a confirmed launch date or final list of participating companies.
Source: coindesk.com
