The Magnificent Seven Have All Voted “No” to OKX-ICE’s Tokenized Stock Party

Every member of Wall Street’s “Magnificent Seven” has objected to having its shares offered on the planned OKX and ICE tokenized stock venue, with Apple and Meta Platforms joining an updated notice that brought the total number of opposing companies to 67. The notice dated Thursday also named Home Depot, Boeing, GE Vernova, Palantir, ServiceNow, S&P Global, KLA, Super Micro Computer and Nebius Group. Apple and Meta joined Microsoft, Alphabet, Amazon, Nvidia and Tesla in completing the group’s opposition.

The objection list previously included Amazon, Tesla and SpaceX in the venue’s Nov. 2 notice, when the tally stood at 56. The first nine objectors appeared on Oct. 15. Meta’s position follows its company’s attempt to launch the Libra stablecoin, later renamed Diem, before abandoning the project in 2022 amid regulatory pushback. Coinbase, Robinhood and Strategy do not appear on the list, nor do Berkshire Hathaway, Visa or Exxon Mobil; it is unclear whether OKXICE notified those companies.

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. A written objection within 30 days prevents the venue from making that stock available for trading, according to the SEC’s order. The objection applies only to that 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. Coinbase launched tokenized stocks for non-U.S. users on its Base network in August, while OKXICE has not disclosed which major stocks it plans to make available at launch.