Amazon, Tesla & SpaceX Oppose OKXICE Tokenized Stock Plan

Six new companies including Amazon, Tesla, Netflix and SpaceX have joined the growing list of companies that are opposing OKXICE’s plans to tokenize their stock and list them on its proposed blockchain trading platform, taking the total up to 56.

As crypto exchange OKX and Intercontinental Exchange (ICE) parent of the New York Stock Exchange (NYSE) prepares to launch an investment platform for tokenized US stocks, companies are opposing the move under a new SEC framework that allows businesses to block third party platforms from tokenizing their stock.

The six new companies that have added their names to the list are Amazon, Tesla, Netflix, SpaceX, SoFi Technologies and Lam Research. On the 30th of October, there were 50 opposing companies.

🚨NEW: Six more issuers have objected to having their shares tokenized through the @okx/@ICE_Markets TSV:

Tesla
Amazon
Netflix
SpaceX
Lam Research
SoFi Technologies

That brings the total number of objections to 56, including five of the Magnificent Seven.

Why the objections, @elonmusk and @anthonynoto?

— Eleanor Terrett (@EleanorTerrett) November 3, 2026

Since the 15th of October, the number of opposing companies has grown, starting with nine companies on the 15th, then 16 on the 19th, 22 on the 24th, 26 on the 27th, 38 on the 28th and adding 12 companies on the 30th. Adding the latest six companies brings the total up to 56.

Other well-known companies that have opposed include Microsoft, Alphabet, Goldman Sachs, JPMorgan Chase, Nvidia, Nike, Costco, AMD, Intel, Walmart and Eli Lilly. Interestingly, five out of the seven companies that make up the Magnificent Seven are now opposing the proposal. The Magnificent Seven are some of the largest names on the US stock market.

Source: okx.com

Companies are opposing due to a new SEC framework that was implemented on the 17th of September 2026. The framework introduces a five year Innovation Exemption that allows qualifying platforms to tokenize US listed stocks. However, it does allow companies to oppose the move.

If a platform wishes to tokenize a stock, they have to give the company 30 days notice. If the company formally opposes the move within the 30 day period, the platform cannot tokenize the stock under the exemption. This means companies have some control over third parties wanting to tokenize their stock.

However, it doesn’t stop companies from tokenizing their stock using blockchain technology. They can choose to issue their own tokenized stock, or partner with other platforms.

OKXICE is a partnership between crypto exchange OKX and Intercontinental Exchange. In June 2026 the companies announced they would be working together to provide digital asset and tokenized financial services. In October they submitted a proposal to the SEC for 63 stock symbols across 62 companies.

This platform will utilise Uniswap v4 liquidity pools on OKX’s XLayer blockchain. Unlike traditional stock exchanges, the platform will use Automated Market Makers (AMMs). AMMs will calculate prices based on how much of an asset is available in the liquidity pools.

Investors will be able to trade tokenized stocks using stablecoins like USDC and USDG. This will be available for trading 24/7, whereas traditional stock exchanges have set hours. Investors will need to do identity checks, sanctions checks and wallet verification to be able to access the platform.

Interestingly, SpaceX are opposing the move despite having gained a lot of interest in tokenizing their stock outside of the US. Their tokens have had a lot of activity on offshore platforms.

Prior to the listing of the SpaceX token, Backpack Securities and crypto exchange Kraken created tokenized stock. Backpack created the SPCX token which had around $1.08 billion in onchain trading volume in June, while Kraken’s SPCXx token recorded about $852 million of volume. Both were intended to be backed by real stock.

However, OKXICE wish to allow US investors to trade tokenized stock under the new SEC framework. This may open up a whole new audience of investors and increase the presence of tokenized securities in the largest equity market in the world.

However, it has come under criticism from traditional finance. Nasdaq urged caution from companies in September. They expressed concern that it could cause fragmentation of liquidity and impact long term shareholder value.

Despite the increase in companies opposing the move, the venture is still keen to continue with the idea. Andrew Cuomo, co-chair of the venture and former Governor of New York has stated that more companies could join as companies start to realise the benefits of tokenization.

Whilst the increase in companies opposing demonstrates that traditional companies are still hesitant to allow third party platforms to tokenize their stock on blockchain networks, the high levels of activity on offshore markets demonstrate that investors are becoming increasingly interested in tokenized stocks. Whether the new SEC framework can help bridge the gap between traditional companies and the crypto industry will become clear in the coming months.

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