Microsoft Joins 15 Companies Objecting to OKXICE Plan

Microsoft formally objected in October 2026 to OKXICE's plan to trade tokenized versions of its shares, joining 15 other companies including Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald's and Western Digital.

Microsoft Corp formally objected in October 2026 to a plan by OKXICE to trade tokenized versions of its shares, blockchain-based versions of a company's stock, joining 15 other companies in the objection.

Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald's and Western Digital also objected, according to the venue's October 19 notice. That brings the total to 16 issuers, up from nine in the October 15 notice. The fast growth of the list suggests the pushback against the plan is widening.

A company's objection stops only the venue that sent the notice from trading its tokenized stock under the SEC exemption; it doesn't block other platforms. Microsoft's objection could narrow where tokenized versions of its stock trade under the exemption, while other platforms remain open to it.

Under it, a venue must give the issuing company 30 days' notice before trading its tokenized stock, giving the issuer a chance to object.

OKXICE LLC is owned 50% by Intercontinental Exchange and 50% by OKC USA. The venue plans to offer around-the-clock trading through permissioned Uniswap v4 liquidity pools on the XLayer blockchain, with trades designed to settle in stablecoins including USDT, USDC and USDG.

Andrew Cuomo called issuer objections "a very natural response." "The model was designed to give companies the right to determine whether they want to opt in or opt out," he said.

Microsoft shares traded at $532.95 as of October 21, 2026.

• OKXICE's notice, dated October 15, named nine objectors: Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon, Applied Optoelectronics, Broadcom and UnitedHealth Group.
• Tokenized stocks were worth more than $3.4 billion as of October 20, 2026, up from over $688 million at the start of the year.
• Tokenized stock trading volume on Robinhood Chain rose to $11.31 billion in September 2026 from $526 million in July 2026.

These value and volume figures track the broader tokenized-stock market, a separate measure from the number of companies objecting to OKXICE.