JPMorgan, Coca-Cola, Adobe, AMD and Dell Join Opposition to OKX-ICE Tokenized Stock Plan
Key Takeaways
- •The latest objections come from companies spanning banking, consumer goods, semiconductors, storage hardware and enterprise technology.
- •Resistance now covers nearly half of the 62 companies initially targeted by the OKXICE joint venture.
- •The platform is designed to trade tokenized shares continuously through on-chain liquidity pools and settle transactions in stablecoins.
- •Companies can prevent third-party venues from listing tokenized versions of their shares under the SEC exemption.
- •Further objections and the timing of an OKXICE launch remain unresolved.
JPMorgan Chase, Coca-Cola, Adobe and Dell Technologies are among seven additional companies that have objected to plans by crypto exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), to trade tokenized versions of their shares, bringing the total number of objectors to 33.
The latest objections bring resistance to nearly half of the 62 companies initially targeted by OKXICE, the joint venture behind the proposed tokenized stock platform. The other new objectors are Advanced Micro Devices (AMD), Applied Materials and SanDisk, according to a notice dated October 27, 2026. The expanded objection list now draws from banking, consumer staples, semiconductors, storage hardware and enterprise technology, showing that the pushback extends across multiple sectors of the U.S. listed market.
The objections follow an earlier wave of opposition from Intel, IBM, Oracle, Cisco and LonQ, as previously reported by BitcoinKE.
The proposed platform would allow tokenized stocks — blockchain-based representations of listed shares designed to correspond to the value of the underlying securities — to trade around the clock through on-chain liquidity pools, with transactions settled in stablecoins. The initiative operates under a five-year U.S. Securities and Exchange Commission (SEC) innovation exemption, a framework that permits qualifying platforms to test tokenized securities trading under a modified regulatory structure.
The growing opposition highlights a key obstacle facing the expansion of tokenized equities. Platforms can build the on-chain infrastructure needed for around-the-clock trading, but individual companies can still block third-party venues from listing tokenized versions of their shares under the exemption. BitcoinKE has separately examined why major U.S.-listed companies are opposing NYSE tokenization plans.
Most of the objecting companies have not publicly explained their decisions, and OKXICE has yet to announce a launch date for the platform. With the exemption running for five years, whether additional targeted companies file objections and when OKXICE sets a launch timeline remain open items shaping the platform's path forward.
