Meta has joined the list of major US companies rejecting plans to offer tokenized versions of their shares through a venture involving cryptocurrency exchange OKX and Intercontinental Exchange (ICE), the owner of the New York Stock Exchange. Its objection means all seven companies in the Magnificent 7 group have now opposed the initiative.
According to Coin Bureau, Meta filed its objection on Thursday, following similar moves by Apple, Tesla, Amazon, Nvidia, Microsoft and Alphabet. The decisions represent a setback for the proposed tokenized stock platform, which aims to make US equities available for trading around the clock and settle transactions using stablecoins.
Magnificent 7 Companies Unanimously Object
The Magnificent 7 companies are among the most prominent names in the US stock markets. With Meta's objection, the group has reached a unanimous position against having tokenized versions of its shares included in the OKX and ICE venture.
Under the initiative, companies have 30 days to block their shares from being offered as tokenized assets. The objection process has prompted a growing number of businesses to reject participation, according to the figures shared by Coin Bureau.
The proposed platform is designed to support 24/7 trading of tokenized US stocks, with transactions settled in stablecoins. That structure would bring traditional equity exposure into a digital-asset trading environment, although the objections indicate that many companies do not want their shares included in the planned offering.
Objections Expand to 50 Companies
The number of companies opposing the initiative increased rapidly over several days in late October and early November.
On October 27, a total of 26 companies, with a combined value of approximately $13.9 trillion, had objected to the plans. The following day, October 28, seven additional companies joined the list, bringing the total to 33. JPMorgan was among the companies included in that group.
By November 1, the number had climbed to 50 companies, representing a combined value of more than $25 trillion. Nvidia, Nike and Micron were among the latest companies financial identified in the objections reported at that stage.
The figures show how opposition expanded beyond the largest technology companies to include businesses across other major sectors. The Magnificent 7's unanimous position is one part of a wider response from companies whose shares could potentially be represented on the proposed platform.
Tokenized Stock Plans Face Corporate Resistance
Tokenized stocks are digital assets designed to represent or provide exposure to traditional company shares. The OKX and ICE venture plans to make these assets available for continuous trading, rather than limiting activity to conventional stock-market hours, with stablecoins serving as the settlement method.
However, the companies' objections demonstrate that the proposed availability of tokenized versions does not automatically translate into corporate participation. The initiative allows businesses a 30-day period to block their shares, and the number of objections reported by November 1 had reached 50.
Meta's decision on Thursday completed the list of seven objections from the Magnificent 7, joining Apple, Tesla, Amazon, Nvidia, Microsoft and Alphabet. Separately, the broader count had already surpassed 30 companies on October 28 before reaching 50 by November 1, with their combined value exceeding $25 trillion.
Writer: Victoria Hale Technology & Blockchain Writer
Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.
She prioritises clarity and accuracy when explaining technical developments to a general audience.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
