Why McDonalds, Microsoft and Google saying no to tokenized stocks isn't a dealbreaker
The SECs new framework for tokenized stock trading looked, at first glance, roughly a month ago, like a fast track to putting U.S. equities on crypto rails. The first real-world test hasnt looked particularly encouraging so far. A growing group of public companies has objected to having their shares traded on the tokenized-securities venue being built by OKX and Intercontinental Exchange (ICE), the owner of the New York Stock Exchange. This weeks of objections included some of the biggest names yet: Microsoft (MSFT), Alphabet (GOOG, GOOGL), Goldman Sachs (GS) McDonalds (MCD) and three others on Monday, then Wells Fargo (WFC) and Cisco (CSCO) and four more firms on Friday rejected having tokenized versions of their shares traded on OKXICE, bringing the disclosed total now to 22 objecting issuers. Seeing some of the worlds largest companies say no may not exactly be the start that tokenization advocates had hoped for. But it also isnt necessarily a major blow to the SECs experiment. Read more: OKX-ICE co-chair Andrew Cuomo calls corporate objections a ‘natural response’ to tokenized stock plans Why it matters Before trading in a companys shares, a venue must notify the issuer and give the issuer 30 days to object. If the company stays silent, trading can begin. That
