Issuer Pushback Puts Rival Tokenized Stock Models in Focus

The contest over tokenized U.S. stocks is sharpening around issuer control: whether companies can keep third-party digital versions of their shares off a crypto-led venue, and whether tokenization should run through established exchange infrastructure. An Oct. 30 public notice from OKXICE, a joint venture involving OKX and Intercontinental Exchange, listed 50 companies that had filed objections to trading tokenized versions of their shares on its proposed venue. The notice names issuers including Nvidia, Walmart, Coca-Cola, JPMorgan Chase and Goldman Sachs, but does not explain why they objected. The dispute comes under a Securities and Exchange Commission (SEC) order issued Sept.