OKXICE says tokenized stock trading opens November 23 with more than 70 assets confirmed, even as 67 companies have objected

OKX and Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, announced on Wednesday that OKXICE will begin trading tokenized U.S. securities on November 23, The Block and crypto.news reported. The venture, co-chaired by former New York Governor Andrew Cuomo, operates under the SEC's five-year innovation exemption, which lets venues trade tokenized securities without registering as traditional exchanges.

OKXICE says more than 70 assets are confirmed, including 59 exchange-traded funds and shares of Coinbase, Circle and Robinhood. A spokesperson told CoinDesk that not all of them will be available at launch. Trading will run 24 hours a day through automated market makers on OKX's X Layer network instead of an order book, and at the start only eligible U.S. customers who complete identity checks and onboarding can trade.

The launch comes as companies push back. A public notice dated November 5 lists 67 companies that object to their shares being traded this way, including Meta, Tesla, Netflix and Costco; issuers can opt out under the exemption. Nasdaq's chief legal and regulatory officer, John Zecca, wrote in Barron's that Nasdaq plans to opt its own stock out, warning that the exemption lets tokenized securities trade outside the national market system and could fragment trading. Cuomo said, "The future of finance is onchain, and we have an opportunity to build it here in America."