Goldman Sachs, McDonald's, and Microsoft Reject Tokenized Stock Trading on OKXICE

In a significant move against the emerging trend of tokenized stock trading, prominent companies such as Goldman Sachs, McDonald's, and Microsoft have voiced their objections to having their shares traded in tokenized form on the forthcoming OKXICE platform. This trading venue is a collaboration between crypto exchange OKX and the Intercontinental Exchange (ICE), which owns the New York Stock Exchange.

As of October 19, 2026, the number of companies opposing this initiative has risen to 16, up from nine just a week prior. The latest objections include major players like Alphabet, Qualcomm, Caterpillar, and Western Digital, joining earlier dissenters such as Broadcom and Verizon. The initial proposal for OKXICE included 63 stock tickers from 62 companies, but the growing list of objections has already led to the removal of at least 17 symbols from the launch roster.

Concerns raised by these companies focus on how tokenized trading could impact their stock prices and investor perceptions. The objections are made under the SEC’s Innovation Exemption, which allows companies to opt out of participation in new trading models. Andrew Cuomo, co-chair of OKXICE, acknowledged that such responses are expected as companies assess the implications of this new market structure.

OKXICE aims to facilitate around-the-clock trading of tokenized shares, each backed by an actual underlying stock, using automated market makers and liquidity pools. However, the objections highlight the complexities and uncertainties surrounding pricing, liquidity, and investor protections in the context of tokenized securities.

As the situation develops, it remains to be seen whether the number of objections will continue to grow and how OKXICE and regulators will address the concerns raised by these major corporations.