33 Firms Including JPMorgan, Coca-Cola Move to Block Tokenized Stocks
A group of 33 companies reportedly used an SEC mechanism to object to tokenized versions of their shares on OKX and an ICE-backed venue, while Apple and Tesla stayed silent.
A coalition of 33 companies, among them JPMorgan and Coca-Cola, has moved to block tokenized versions of their stock from trading on OKX and a venue linked to Intercontinental Exchange (ICE), according to a report from BeInCrypto. The firms are said to have acted through a newly available veto route at the U.S. Securities and Exchange Commission.
The report names Apple and Tesla among the companies that did not join the objection, leaving their positions unclear. No public statement from either company was cited.
Why tokenized equities are contested
Tokenized stocks are blockchain-based representations of publicly traded shares, designed to be traded around the clock and settled faster than conventional equity markets. Issuers and listed companies have long objected that such products can use their names and brands without permission, and that the tokens may not carry the same shareholder rights as the underlying shares.
- 33 companies reportedly invoked the SEC route to object
- Named participants include JPMorgan and Coca-Cola
- The tokens were offered on OKX and an ICE-related venue
- Apple and Tesla did not take part, per the report
The development comes as U.S. regulators weigh how existing securities rules apply to tokenized real-world assets, a category that has drawn interest from both crypto platforms and traditional exchanges. How the SEC treats issuer objections to third-party tokenization could shape whether such products can be listed in the U.S. market at all.
Details of the individual veto requests, the timing of any regulatory response, and the venue's own position were not fully disclosed in the source material. Further clarity is likely to depend on filings or statements from the companies and platforms involved.