Mike

Equity

Canton

America

<h3 id="h-key-insights" class="wp-block-heading">Key Insights:</h3>
<ul>
 <li>Stock tokenization at OKXICE faces 50 objections, with 43 from its 62 target firms.</li>
 <li>An issuer executive alleges Nasdaq urged objections to OKXICE’s tokenized stocks.</li>
 <li>Nasdaq denies ties to a newspaper ad urging issuers to reject stock tokenization.</li>
</ul>
Stock tokenization plans from OKX and NYSE parent ICE drew 50 company objections, as Nasdaq faced issuer pressure claims.
Crypto in America reported the allegations, citing an executive at a Nasdaq-listed company. The dispute concerns OKXICE’s proposed tokenized stocks and the SEC’s Innovation Exemption.
<h2 id="h-nasdaq-faces-questions-over-issuer-outreach-and-newspaper-ad" class="wp-block-heading">Nasdaq Faces Questions Over Issuer Outreach and Newspaper Ad</h2>
The executive said a Nasdaq representative contacted the company and suggested an objection to OKXICE’s proposed listing. The representative also offered a call to explain the reasons for opposing the plan.
“Nasdaq is definitely partly behind this,” the executive <a href="https://www.cryptoinamerica.com/p/wall-streets-tokenization-fight-gets" rel="noopener noreferrer nofollow">told Crypto in America</a>. However, a Nasdaq spokesperson declined to comment on allegations about its representatives backing up objections.
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 <figure class="aligncenter size-large"><img width="1024" height="868" src="https://www.thecoinrepublic.com/wp-content/uploads/2026/11/db0ba6d8dc17d3e78446038c5ced2c6e4db4c46cced126cb9dc1c845ad48a368-1-1024x868.jpeg" alt="Stock tokenization battle escalates | Source: X">
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 Stock tokenization battle escalates | Source: X
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Separately, a Wall Street Journal advertisement urged company executives to oppose stock <a href="https://www.thecoinrepublic.com/2025/12/03/stock-tokenization-in-spotlight-amid-nasdaq-push-details/" rel="noopener noreferrer nofollow">tokenization</a> of their shares. Its QR code directed readers to Nasdaq’s FAQ, which explains its objections to the SEC’s tokenized securities venue framework.
A conservative-leaning nonprofit paid for the advertisement, but the campaign’s final funding source remains unclear. Following that, Nasdaq denied any involvement and said it had never contributed to the organization.
The exchange also denied authorizing the advertisement’s use of its FAQ or the link to that document. Meanwhile, Nasdaq has partnered with Kraken to develop the Nasdaq Equity Token within existing securities rules.
Andrew Cuomo, the former New York governor leading OKXICE, addressed the advertisement during a Thursday press call. He described the ad as “game on” and framed the dispute around competition between trading venues.
Figure CEO Mike Cagney questioned OKXICE’s trading model in a November 2 post on X. He challenged its execution quality and raised questions about margin availability and access to a stock lending market.
In addition, companies have also raised concerns about share prices, liquidity, and volatility, according to Crypto in America. Other concerns center on shareholder rights, custody, and transparency, and a separate source raised questions about OKX’s offshore domicile.
<h2 id="h-stock-tokenization-objections-narrow-okxice-s-original-list" class="wp-block-heading">Stock Tokenization Objections Narrow OKXICE’s Original List</h2>
The Wall Street stock tokenization dispute now includes objections from 43 of OKXICE’s original 62 proposed companies. That represents nearly 70% of the initial list, with 19 companies yet to object.
JPMorgan, Walmart, Nvidia, Coca-Cola and Goldman Sachs appear among the objectors. Seven companies beyond the original list also submitted objections, bringing the total to 50.
The SEC’s stock tokenization framework gives issuers an opportunity to reject third-party listings on individual venues. A valid objection prevents the necessary forum from trading that company’s tokenized shares under the exemption.
<a href="https://www.thecoinrepublic.com/2026/03/10/nasdaq-and-kraken-collaborate-on-a-24-7-tokenised-stock-trading-plan/" rel="noopener noreferrer nofollow">Nasdaq’s stock tokenization </a>FAQ lists concerns about price discovery, market data access, and safeguards outside established equity markets. The exchange supports issuer control over tokenization and plans to exclude its own shares from these venues.
However, rival TSV LLC expects tokenized trading in Canton Strategic Holdings shares to begin as early as November 2. Canton Strategic endorses the arrangement, while its participation removes the separate 30-day issuer objection requirement.
Meanwhile, crypto regulation remains an election priority while the Clarity Act has stalled in the Senate. With that, industry groups have spent over $170 million on the midterms, including about $154 million from Fairshake and affiliates.
The post <a href="https://www.thecoinrepublic.com/2026/11/03/wall-street-stock-tokenization-battle-escalates-as-nasdaq-faces-pressure-claims/" rel="noopener noreferrer nofollow">Wall Street Stock Tokenization Battle Escalates as Nasdaq Faces Pressure Claims</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

Wall Street Stock Tokenization Battle Escalates as Nasdaq Faces Pressure Claims

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