Nike formally objected to the tokenization and trading of its shares. This activity would occur on a new blockchain-based marketplace. Crypto exchange OKX and NYSE-parent Intercontinental Exchange (ICE) developed the platform. The platform, named OKXICE, allows 24/7 trading of digital U.S. stocks. It uses stablecoins for these transactions.
Nike is among 50 companies opposing this move. Other major names include Nvidia, Costco, and Microsoft. These companies exercise their right to block inclusion. An SEC exemption permits such venues to operate. The growing list of objections signals widespread caution from established corporations. This caution relates to digital securities trading.