CoreWeave, Broadcom object to tokenized stock trading on OKX exchange

tokenized stock trading — Nine public companies, including CoreWeave, Broadcom, and Verizon, have formally objected to the tokenized trading of their shares on the OKX digital asset exchange.

The companies filed objections with the U.S. Securities and Exchange Commission regarding OKX’s ICE platform, which facilitates the trading of tokenized equity securities. Applied Optoelectronics, another objecting firm, told The Wall Street Journal it was concerned about how tokenization could affect its stock price, liquidity, and market volatility.

The objections highlight a significant hurdle for crypto exchanges seeking to bridge traditional finance with digital assets by offering tokenized versions of real-world assets (RWAs). Corporate pushback introduces legal and regulatory uncertainty for these products.

OKX launched its ICE platform earlier this year, allowing users to trade tokenized stocks and ETFs. The platform operates under a regulatory framework in a non-U.S. jurisdiction, but the objections from U.S.-listed companies underscore the complex cross-border legal challenges facing the tokenized asset sector.