Nvidia and Nike Join Growing Corporate Pushback Against OKXICE

The mounting list of objectors now includes industry heavyweights such as Nvidia, Nike, Costco, Micron, and Reddit. These companies are exercising their rights under a recent Securities and Exchange Commission (SEC) temporary trading exemption, which grants issuers 30 days to block unaffiliated third parties from offering tokenized versions of their stock. Since October 26, the number of companies filing objections has nearly doubled, signaling broad corporate skepticism toward the venue's permissioned liquidity pool structure.

According to the October 30 notice, the venture—which initially identified 62 potential assets for tokenization—must now remove any securities covered by these valid objections from its service. The opposition has been accompanied by reports that Nasdaq representatives encouraged listed firms to reject the arrangement, though Nasdaq has declined to comment on those specific claims. Instead, the exchange has signaled its own preference for an issuer-led tokenization model, which it plans to develop alongside Kraken by 2027.

While OKXICE intends to offer round-the-clock trading via the XLayer blockchain, the platform faces structural limitations. The venue cannot operate an order book and must adhere to strict volume ceilings imposed by the SEC. Furthermore, the platform's notice clarifies that it will not act as a custodian for assets, leaving the success of the project contingent on its ability to navigate both the regulatory requirements and a shrinking pool of available, authorized securities.