THE APEX TIMES
A new 24/7 tokenized-stock trading venue backed by OKX and ICE is drawing more corporate resistance, with NVIDIA and Nike reported among companies objecting to the approach that settles trades against stablecoins under a temporary SEC exemption.
OKX and ICE’s plan to launch a tokenized-stock trading venue is facing growing resistance from companies whose shares would be represented on the platform, according to a report citing “objectors” that now includes NVIDIA and Nike.
The venue, described as aiming for 24/7 trading of tokenized stocks against stablecoins, is tied to what the report characterizes as a temporary exemption granted by the U.S. Securities and Exchange Commission (SEC). Under that framework, the platform would tokenize equity instruments and allow trading around the clock, with settlement tied to stablecoins rather than conventional broker-dealer rails.
The reported dispute centers on whether the tokenization structure is consistent with the securities laws and with how companies and regulators treat ownership and trading of their stock. In the report, NVIDIA and Nike are named among a growing list of objectors, indicating that the issuers of the underlying equities are actively contesting the effort to bring their stock exposure into a tokenized venue.
Neither the report nor the brief metadata provided specifies which objections NVIDIA and Nike have filed, what legal theories they use, or whether they are opposing the SEC exemption itself or specific operational details of the planned market structure. It also does not indicate what timeline the partners are following for the launch or whether the venue’s rollout could be delayed by the corporate pushback.
The broader context is that tokenized-stock trading has attracted regulators’ attention because it can blur lines between traditional equities markets, custody and settlement practices, and how investor protections apply in crypto-adjacent ecosystems. When the underlying instrument is a public-company share, questions tend to move quickly from “how trades clear and settle” to “who controls the securities, what rights token holders have, and how issuers view their obligations.”
For NVIDIA, a company whose products and demand indicates make its stock a frequent target for financial products, participation in any venue that repackages its shares into token form can raise reputational, corporate-governance, and legal-compliance concerns. For Nike, the company’s branding and investor-relations posture can also make tokenized trading of its stock a more visible issue than for less widely held equities. Still, the report does not attribute specific concerns to either issuer, so the exact rationale remains unclear from the available information.
As of the publication of the report, the SEC exemption is described as “temporary,” but the disclosed materials do not state the conditions attached to that exemption, the duration of the temporary approval, or what outcomes would trigger the exemption to expire or be modified. The partners’ response also is not detailed in the information provided.
What to watch next is whether the SEC, the venue operators, and the named objecting companies resolve the remaining issues through amendments to the tokenization and trading model, additional issuer agreements, or a change in how specific securities are included or excluded. Another key indicator will be whether other large issuers follow NVIDIA and Nike’s lead, narrowing the set of equities the venue can safely list under the exemption.
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