The push by crypto platforms to tokenize US stocks is gaining momentum, despite resistance from some major companies. OKXICE, a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange Inc., is set to launch its stock-token platform on November 23. The platform will initially list more than 70 digital assets tied to stocks and exchange-traded funds, though not all will be available immediately.
OKXICE had aimed to include blue-chip stocks like McDonald’s Corp., Coca-Cola Co., and JPMorgan Chase & Co. However, these companies objected to having their shares traded on the platform, forcing the venture to adjust its plans. The backlash highlights the tension between traditional finance and the growing crypto sector.
Despite the objections, the crypto industry’s bid to shake up stock trading is accelerating. The launch of OKXICE’s platform marks a significant step in this direction, as it seeks to bridge the gap between traditional equities and digital assets.