Corporate pushback hits OKXICE tokenized stock platform

The opposition has mounted rapidly, growing from just nine objections in mid-October to 38 by October 28. Among those signaling a refusal are industry giants such as JPMorgan Chase, Microsoft, and Alphabet. While the specific reasoning behind these rejections remains private, JPMorgan Chase has indicated that its stance is not a total rejection of tokenization, but rather a cautious approach to how its shares are represented in secondary markets.

SEC regulations grant issuers a 30-day window to block unaffiliated third parties from tokenizing their securities under the current exemption. Once this deadline passes, the opportunity to use this specific objection mechanism expires. Nasdaq, meanwhile, has declined to address allegations of direct outreach to issuers, stating instead that it remains committed to its own issuer-centric model. The exchange is currently developing a separate tokenization framework in partnership with Kraken, slated for release in the second quarter of 2027.

As the industry navigates these regulatory hurdles, alternative models are emerging. Canton Strategic Holdings plans to launch its own tokenized shares on November 2 through TSV. Unlike the OKXICE arrangement, this model involves direct cooperation between the issuer and the platform, effectively bypassing the third-party objection process.