OKXICE sets Nov. 23 launch as 67 companies object

The companies confirmed the date on Wednesday, Nov. 11. The platform expects to support more than 70 assets, including 59 exchange-traded funds, and has secured participation from issuers including Coinbase, Circle and Robinhood. The announcement did not say that every confirmed asset would be available on launch day.

Access will be limited to US customers who complete onboarding and hold a CeDeFi Wallet. Users must pass identity and compliance checks. Trading is planned through permissioned liquidity pools on OKX’s X Layer blockchain, with automated market makers executing transactions rather than a conventional exchange order book.

The platform will use a five-year exemption established in a September 17 order by the US Securities and Exchange Commission. The framework allows qualifying venues to facilitate trading in certain tokenized securities without registering as national securities exchanges, subject to requirements including participant verification, trading restrictions and investor protections. Eligible tokens must represent the underlying securities and their associated rights; the rules also bar qualifying venues from extending credit to buyers.

OKXICE’s Nov. 5 public notice listed objections from 67 companies, including Meta, Tesla, Netflix, Costco and Home Depot. Under the SEC framework, issuers have 30 calendar days after notification to object to an unaffiliated third party tokenizing their shares on a particular venue. A timely objection blocks that venue from offering the affected securities under the exemption.

Nasdaq has separately warned that allowing tokenized securities to trade outside the National Market System could fragment trading and weaken established reporting and transparency. In a Tuesday opinion article in Barron’s, Nasdaq Chief Legal and Regulatory Officer John Zecca said tokenization should preserve shareholder rights and give issuers meaningful control. Nasdaq is developing its own tokenization effort with Kraken parent Payward; Nasdaq Equity Tokens are expected to launch in the second quarter of 2027.