JPMorgan, Coca-Cola, AMD Object to Tokenized Shares: 33

Published October 28, 2026, 10:45 PM PKT. Based on the OKXICE revised public notice dated October 27, 2026 (primary source) and CoinDesk, Unchained, Decrypt and TokenPost reporting on that notice (secondary sources). This article is a follow-up to MABOnChain's October 27, 2026 coverage of the 26 objections then on record.

Seven more companies have formally objected to their shares trading as tokens on OKXICE, the tokenized stock venue planned by crypto exchange OKX and Intercontinental Exchange, the parent of the New York Stock Exchange, taking the total number of disclosed objections to 33, up from 26 in the notice dated a day earlier. The seven new names, appended at the end of the objection list in the revised public notice dated October 27, 2026, are JPMorgan Chase, Advanced Micro Devices, Applied Materials, Coca-Cola, Adobe, Dell Technologies and Sandisk, according to the notice itself and reporting by CoinDesk and Unchained. Nearly half of the venue's original roster has now opted out: CoinDesk counted 30 objections from the 62 companies originally proposed for trading, about 48% of that roster, while noting that three objectors, Wells Fargo, Arm and Cerebras, were not listed in that original filing.

The seven new objectors

The seven new names sit at the end of the objection list, after the 26 issuers carried over from the previous version, among them Microsoft, Alphabet, Goldman Sachs, Oracle, IBM and Intel, Unchained reported. JPMorgan joins Goldman Sachs and Wells Fargo as the third bank on the list, Unchained noted, a notable addition given the bank's own extensive blockchain work. Like the earlier versions of the notice, the October 27 version gives no reason for any objection and no launch date for the venue, Unchained reported.

The count has risen with every revision of the notice. Unchained tallied nine objections on October 15, then 16 on October 19 and 22 on October 23, before the 26 recorded in the version dated October 26. MABOnChain covered each of those steps, most recently the addition of IBM, Oracle, Intel and IonQ that took the total to 26. The October 27 revision is the fifth total in that sequence, and at seven names it ties the 9 to 16 step as the largest single-day addition since the first notice, which was dated October 4, 2026.

JPMorgan still keen on tokenization, not on this venue

A JPMorgan Chase spokesperson told CoinDesk the bank remains interested in tokenization despite opting out of the venue. "We are encouraged by the potential of tokenization but also need to be thoughtful about how our shares are represented and traded," the spokesperson said. "We have decided not to participate in this venue at this stage but will continue to evaluate opportunities as the market develops."

OKXICE co-chair Andrew Cuomo previously said many companies were expected to wait and see how the market develops before participating, describing the SEC's limited experiment as "a sandbox, a model demonstration," CoinDesk reported. The JPMorgan statement fits that framing exactly: an objection to this venue, at this stage, rather than a rejection of tokenization itself. It also sharpens the question facing OKXICE, because a venue built for institutional trading loses credibility with every household name that declines to be listed on it, even when the decliner endorses the underlying idea.

How the objection clock works

Under the SEC order dated September 17, 2026, a venue must notify an issuer before it trades a token of that company's stock created by an unaffiliated third party, Unchained reported. A timely written objection from the issuer, sent within 30 calendar days of receiving that notice, keeps the token off the venue, and the venue then has five business days to disclose the objection in an amended public notice. That machinery is why the count moves in steps: each amended notice sweeps up the objections received since the last one.

The venue itself would operate under the SEC's five-year Innovation Exemption, CoinDesk reported, offering round-the-clock trading through permissioned Uniswap v4 liquidity pools on OKX's XLayer blockchain, with transactions settled in stablecoins. The October 27 notice confirms the structure: the pools are Uniswap v4 pools deployed on XLayer with an OKXICE smart contract extension enforcing permissioning, only wallets holding a valid non-transferable soulbound token may trade or provide liquidity, and each tokenized stock is paired with a payment stablecoin such as USDC or USDG. The tokenizer, acting through a registered broker-dealer, holds the underlying stock on a one-for-one basis against the tokens outstanding, according to the notice.

The AWS switch in the same notice

The revised notice also changes the venue's service provider table. Amazon Web Services is now named as the cloud services provider for the venue's website, back-end systems and databases, and Alibaba Cloud no longer appears in the technology and hosting rows, Unchained reported. A separate passage on disaster recovery still says the off-chain systems are hosted by Alibaba Cloud, and the notice lists Amazon Web Services as the store for participants' personal data. OKX Inc. now appears next to OKX Technology Inc. as a developer of the venue's software, Unchained added.

The notice keeps the risk disclosures from earlier versions, including that smart contract changes "take effect without a timelock, so TSV Participants may receive no advance notice of an upgrade," Unchained reported. That disclosure sits alongside the venue's own statement that it is not registered with the SEC in any capacity for the activities performed under the exemption, and that the SEC has not passed upon the merits or accuracy of the disclosures in the notice.

What is left on the roster

Some of the biggest names have still not objected. Nvidia, Tesla, Apple and Amazon have not objected so far, Decrypt reported. Nasdaq, which won SEC approval for its own tokenized securities pilot, has said it will opt its shares out of the exemption, Decrypt added, a different route to the same outcome as an objection: its shares will not trade on OKXICE either.

With 33 objections disclosed and the 30-day clocks still running for issuers notified later, further amended notices can still add names, and the venue has still given no launch date. The practical question is no longer whether issuers will object, since nearly half the original roster already has, but how many of the original names will be left when the clocks run out, and whether a venue missing nearly half its intended lineup can still attract the market makers and liquidity it was built to serve.

This article is news reporting and is not investment advice.

Sources

• OKXICE, Revised Public Notice, Tokenized Securities Venue (October 27, 2026), primary source
• CoinDesk, JPMorgan, Coca-Cola, Dell also say no to OKX-ICE tokenized stock trading plan (October 28, 2026), secondary source
• Unchained, JPMorgan, AMD and Coca-Cola Join Objectors to OKX-ICE Stock Tokens as Count Hits 33 (October 28, 2026), secondary source
• Decrypt, JPMorgan, Coca-Cola Among 7 More Companies Objecting to OKX-ICE Tokenized Stocks (October 28, 2026), secondary source
• TokenPost, 33 Companies Oppose OKXICE Stock-Token Trading (October 28, 2026), secondary source