Nvidia and Nike Lead Biggest Wave Yet of Tokenized Stock Objections
Twelve more companies, including Nvidia, Micron, Costco and CrowdStrike, have objected to having their shares offered on OKX and Intercontinental Exchange’s planned tokenized-stock venue, bringing the total to 50. Under an SEC innovation exemption, an issuer’s written objection within 30 days prevents that venue from listing its tokenized shares. The joint venture plans round-the-clock trading through permissioned Uniswap pools on OKX’s XLayer blockchain, using stablecoins. Companies have not publicly explained most objections. Nasdaq has cited concerns about real-time pricing and trade reporting, and a report says it may have encouraged listed firms to object. The venue acknowledges it is not subject to Regulation NMS and that best-execution and reporting obligations remain unsettled.
