Nine Companies Object to OKXICE Tokenized Stock Plan

OKXICE’s proposed tokenized-stock venue has received formal objections from nine companies seeking to block third-party trading of their shares on the platform, according to an October 15 public notice from the venture. The objections prevent the affected stocks from being offered through that venue under the regulatory framework OKXICE plans to use; they do not establish that the companies oppose tokenization in general. The notice names Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon, Applied Optoelectronics, Broadcom and UnitedHealth Group. Eight of the nine appeared among 63 stocks OKXICE identified on October 4 as intended offerings. Cerebras was not on that list. The notice records the objections but does not explain the companies’ individual reasons. Applied Optoelectronics is the only objector whose rationale was described by a company representative in the reporting. A spokeswoman said the company was concerned about uncertainty over tokenization’s effects on its share price, liquidity and volatility, the possibility that investors might mistake the offering as company-backed, and the absence of a clear shareholder benefit. OKXICE has said...