The Magnificent Seven Say “No”—OKXICE’s Tokenized-Stock Venue Now Has 67 Objectors

An updated notice dated Thursday took the number of companies opposing tokenized versions of their shares on the proposed OKXICE TSV venue to 67, with Apple and Meta Platforms joining an objection list that now includes every member of Wall Street’s “Magnificent Seven.” Microsoft, Alphabet, Amazon, Nvidia and Tesla had objected previously, while Tesla and SpaceX were among companies that rejected the initiative in the venue’s Nov. 2 notice.

The 11 newly listed objectors are Apple, Meta Platforms, Home Depot, Boeing, GE Vernova, Palantir, ServiceNow, S&P Global, KLA, Super Micro Computer and Nebius Group. OKXICE said 56 of the 62 companies originally selected for the platform had objected, leaving eight of the 63 proposed symbols without a disclosed opt-out. The total number of objectors had stood at 56 on Nov. 2, nine on Oct. 15 when the first objections appeared, and 67 after the latest update.

Meta’s opposition comes after the Facebook parent attempted to launch its own stablecoin, Libra, later renamed Diem, before abandoning the project in 2022 amid regulatory pushback. Coinbase, Robinhood and Strategy have not objected. Coinbase launched tokenized stocks for non-U.S. users on its Base network in August, while Berkshire Hathaway, Visa and Exxon Mobil are also absent from the list. 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 tokenization venue must notify a company before offering tokenized shares backed by an unaffiliated third party. A company can object in writing within 30 days, preventing that venue from making its stock available for trading. 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. The platform plans to offer tokenized U.S. 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. Its notices do not identify the tokens planned for launch.