Nvidia, Costco and Nike Join Growing List of Companies Blocking OKX‑ICE Tokenized Stock Platform
More than half of the firms initially slated for OKX‑ICE’s blockchain stock marketplace have formally objected, including Nvidia, Costco and Nike.
New wave of objections
Nvidia, Costco and Nike are among the latest issuers to tell OKX‑ICE they do not want their shares traded on the proposed blockchain‑based marketplace.
The joint venture between crypto exchange OKX and NYSE parent Intercontinental Exchange announced the additions on Friday, Oct. 30, raising the total number of objectors to 50.
How the platform is meant to work
OKX‑ICE plans to let investors buy and sell digital versions of U.S. stocks around the clock, using stablecoins for payment. The effort is being built under the SEC’s five‑year “Innovation Exemption,” which permits companies to block tokenized trading when the arrangement is handled by an unaffiliated third party.
Companies that have objected
The latest filing lists twelve firms joining the objection list: Nvidia, Costco, Micron Technology, CrowdStrike, Corning, IREN, USA Rare Earth, Bloom Energy, Nike, Palo Alto Networks, Reddit and Hewlett Packard Enterprise.
According to a CoinDesk tally, 43 of the 62 companies originally selected—about 69 %—have now objected. Seven additional objectors were not part of that original group.
Companies that have not objected yet
There remain nineteen firms from the original selection with no public objection as of the Friday notice. Those include Apple, Amazon, Tesla, SpaceX, Netflix, Palantir and Strategy, among others.
Other notable names such as Robinhood, Coinbase, Circle, SoFi Technologies, Super Micro Computer, Lam Research, ServiceNow, GE Vernova, Boeing, Home Depot, Securitize and BitGo have also not filed objections, though their silence does not imply endorsement.
Regulatory timeline
Under the SEC’s rules, issuers may object on or before the 30th calendar day after receiving a written notice from the venue. Companies that got the initial notice on Oct. 4 therefore have a deadline around early November. The clock starts when the issuer receives the notice, and the published list may lag behind actual responses because venues have up to five business days to disclose an objection.
Industry reaction
OKX‑ICE co‑chairman Andrew Cuomo, former New York governor, said at a press conference that many firms want to observe how the market functions before committing.
“I think the more people become familiar with tokenization, and the more they see the benefits of tokenization, I think you'll see more and more companies participate,” Cuomo said, adding that the rollout is at the very beginning of a fundamentally different market structure.
JPMorgan Chase, an earlier objector, told CoinDesk it remains encouraged by the technology’s potential but wants to be thoughtful about how its shares are represented and traded.
What the objections mean
The growing list of objections highlights continued caution among issuers about the experiment, even as supporters tout longer trading hours and faster settlement. Whether the promised benefits will attract enough investor interest to outweigh concerns about trading outside traditional exchanges remains an open question.
