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Nasdaq Stays Out as 16 Firms Object OKXICE Tokenized Stocks

By Drooid · Oct 21, 2026, 11:00 PM UTC · How we work

Summary

Microsoft objects tokenization

Microsoft, Alphabet and Goldman Sachs objected to tokenized trading of shares on OKXICE.
Oct. 19 notice added Qualcomm, Caterpillar, McDonald’s and Western Digital, raising objectors to 16.
OKXICE, a 50-50 joint venture of OKX and Intercontinental Exchange, would enable token trading via Uniswap v4 pools.
Tokens would be backed one-for-one by shares and carry dividend and voting rights.
Nasdaq declined to join the venture, reflecting broader industry hesitation toward tokenized equity markets.

Summary

Robinhood spikes tokenized volume

Robinhood Chain tokenized-stock volume surged from $526 million in July to $11.31 billion in September.
Solana’s tokenized equities category became the blockchain’s fastest-growing segment in the quarter.
Analyst Owen Lau predicts tokenization could help low-volume stocks gain global reach, 24/7 trading, and dividend payments.
Investors can use tokenized equities as collateral on DeFi platforms, expanding flexibility and control.

History

Historical Context

The U.S. Securities and Exchange Commission’s 2019 Framework for ‘Investment Contract’ Analysis of Digital Assets established formal guidance for tokenized securities. In 2020, tZero secured $75 million via a security token offering, becoming the first publicly listed tokenized equity on the OpenFinance Network. Now Microsoft, Alphabet, Goldman Sachs, and OKX’s joint venture with Intercontinental Exchange face similar objections as Robinhood Chain’s tokenized-stock volume jumps from $526 million to $11.31 billion. The 2019 precedent suggests regulators will intensify scrutiny, compelling platforms to secure SEC clearance before expanding 24/7 blockchain equity markets.

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Microsoft objects tokenization

Microsoft, Alphabet and Goldman Sachs objected to tokenized trading of shares on OKXICE.
Oct. 19 notice added Qualcomm, Caterpillar, McDonald’s and Western Digital, raising objectors to 16.
OKXICE, a 50-50 joint venture of OKX and Intercontinental Exchange, would enable token trading via Uniswap v4 pools.
Tokens would be backed one-for-one by shares and carry dividend and voting rights.
Nasdaq declined to join the venture, reflecting broader industry hesitation toward tokenized equity markets.

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