Goldman Sachs · Microsoft · SEC · OKX · CoinDesk
OKX-ICE co-chair Andrew Cuomo calls corporate objections a ‘natural response’ to tokenized stock plans
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A growing list of companies rejecting tokenized trading of their shares is an expected part of testing a new market structure, Andrew Cuomo, co-chairman of the OKX-ICE joint venture, said after Microsoft, Alphabet and Goldman Sachs joined the objectors.
Key facts
- Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%
- His remarks followed a Monday public notice showing 16 companies had objected to having tokenized versions of their shares traded on OKXICE, the planned venue from crypto exchange OKX and New York
- Securitize earlier this month announced an offering of 12 tokenized stocks for U.S. investors, with plans to make them available on OKXICE’s venue
- The 30-day objection window is the mechanism the SEC built in to give companies a say,” he said
Summary
OKX-ICE co-chair Andrew Cuomo called issuer objections to tokenized stock trading a “natural response,” saying companies were expected to take a wait-and-see approach. Sixteen companies, including Microsoft, Alphabet and Goldman Sachs, have objected to trading on the planned venue under the SEC’s experimental framework. Securitize and Vertalo executives said issuers need answers about pricing, investor protections, custody and shareholder rights as the new markets develop. “This is a natural response,” Cuomo, an OKX board member and former New York governor, said during a press call on Tuesday.