38 Companies Oppose OKX and Intercontinental Exchange Tokenized-Stock Plan

Five companies, including Walmart and Eli Lilly, have publicly opposed OKX and Intercontinental Exchange’s tokenized-stock trading plan, bringing opposition to 38 of the 62 companies initially identified — a majority.

The latest public opponents are Walmart, Eli Lilly, Carnival, Arcos Dorados and Cigna. The total had reached 16 after an earlier round of objections.

OKX and Intercontinental Exchange are pursuing the plan through their proposed OKXICE venture, which aims to offer around-the-clock trading in tokenized U.S. shares. The plan concerns trading tokens tied to companies’ shares.

Under a five-year exemption from the SEC, companies get 30 days to object when an unaffiliated third party seeks to tokenize their shares for trading. Silence during that period is treated as permission for the trading, and the framework provides no later mechanism for a company to withdraw that permission.