Walmart, Eli Lilly, and others oppose OKXICE's tokenized stock plan, bringing the total number of opposing companies to 38.

October 29: Walmart, Eli Lilly, Carnival, Arcos Dorados, and Cigna have joined the list of opponents to the OKXICE tokenized stock trading initiative, a joint venture between OKX and NYSE parent company Intercontinental Exchange (ICE). An updated announcement shows that 38 companies have disclosed their opposition, more than half of the original proposed list of 62.

The plan relies on the SEC's "innovation exemption" framework. When shares are tokenized by an unaffiliated third party, the trading venue must notify the issuer and provide a 30-day objection period; if no position is stated, trading may commence, and there is no mechanism to withdraw consent after the fact. JPMorgan has also objected, with a spokesperson saying it will not participate at this stage but does not rule out future opportunities.