Microsoft, Alphabet and Goldman Sachs Object to Tokenized…
By Abdelaziz Fathi
AI summary of the source article
Microsoft, Alphabet, and Goldman Sachs are among 16 issuers that have formally objected to tokenized versions of their shares trading on OKXICE. The objections reduce the proposed stock-trading platform's initial offering by approximately 24 percent.
Why it matters
The text states that "the practical consequence is a smaller selection of recognizable equities" and that "the reduction could affect customer acquisition and trading activity."
Key facts
- Sixteen issuers, including Microsoft, Alphabet, and Goldman Sachs, have formally objected to OKXICE offering tokenized versions of their shares.
- Fifteen of the objecting issuers were among the 62 companies originally planned, reducing OKXICE's initial stock offering by roughly 24%.
- OKXICE is a 50-50 joint venture between crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange operating under the SEC's Innovation Exemption.
Source excerpt · FinanceFeeds
Microsoft (MSFT), Alphabet (GOOG, GOOGL) and Goldman Sachs (GS) have formally objected to tokenized versions of their shares trading on OKXICE, bringing the number of opposing issuers to 16 and narrowing the proposed stock-trading platform's initial offering. The objections appear in an October 19 public notice issued by OKXICE, the 50-50 joint venture between cryptocurrency exchange OKX and Inter…