Walmart, Eli Lilly, Cigna Group, Carnival, and Arcos Dorados have objected to having their shares traded on OKXICE TSV, a tokenized stock venue operated by Intercontinental Exchange and OKX's U.S. holding company, according to an updated notice dated Wednesday. The five additions bring the total number of objecting companies to 38, up from 33 a day earlier when JPMorgan Chase, Coca-Cola, and Dell joined the list.
The objections have grown rapidly since the venue's initial notice on Oct. 15, when nine companies objected. The count reached 16 on Oct. 19 after Microsoft added its objection, then 22 on Oct. 23 when Wells Fargo joined.
Under the SEC's innovation exemption announced in September, venues must notify companies before offering tokenized versions of their shares by unaffiliated third parties. Companies can object in writing within 30 days, which prevents the venue from trading that stock. The objection applies only to that specific venue.
OKXICE TSV plans to offer 24/7 trading of tokenized U.S. stocks through permissioned Uniswap v4 pools on OKX's XLayer blockchain paired with stablecoins such as USDC. The SEC exemption caps the venue at 75 of the largest, most liquid stocks, with trading limited to 0.25% of each stock's average daily volume, and up to 250 other stocks at 2.5%.
The 30-day objection period remains open. Nvidia, Tesla, Apple, and Amazon have not yet objected to the venue.