Morning Minute: Tokenized Stock Venues Are Launching Without Big Tech’s Approval
Summary
OKXICE is set to launch on November 23 with more than 70 tokenized assets, mostly Direxion ETFs, after 67 companies—including all seven Magnificent Seven firms—objected to third-party tokenization of their shares. The seven individual stocks available are from crypto-related companies. Securitize will issue tokens backed one-for-one by shares, with dividends and voting rights; trading will run through Uniswap v4 on OKX’s X Layer. Meanwhile, the NYSE is developing a tokenized securities platform using Avalanche, and DTCC launched a tokenization service on Canton with major financial institutions participating. The piece argues that tokenized securities are advancing, but largely through incumbent financial infrastructure.
