Robinhood Says It Does Not Object to OKXICE Tokenized Shares

Robinhood said Nov. 10 it does not object to OKXICE trading tokens tied to its stock, becoming the third company to state that position as 56 of 62 companies on the initial list have objected.

Robinhood is one of six companies with no public objection. The group also includes Securitize, BitGo, Circle, Coinbase and Strategy; Securitize and BitGo stated their positions before Robinhood.

The count is up from 50 objections in earlier coverage of issuer opposition to OKX and ICE's tokenized-share plan.

OKX and Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, are developing OKXICE. The proposal calls for tokenized shares to trade through automated market makers and would rely on the SEC's five-year innovation-exemption mechanism. Issuing companies could object during the 30 days after receiving notice. The proposal would give token holders dividend and voting rights equivalent to those attached to the underlying shares.