Why McDonalds, Microsoft and Google saying no to tokenized stocks isn’t a dealbreaker

Why McDonalds, Microsoft and Google saying no to tokenized stocks isn’t a dealbreaker

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This is an excerpt from CoinDesk’s new ‘Tokenization Weekly’ newsletter that will be launching soon.

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The SEC’s new framework for tokenized stock trading looked, at first glance, roughly a month ago, like a fast track to putting U.S.

The first real-world test hasn’t looked particularly encouraging so far.

A growing group of public companies has objected to having their shares traded on the tokenized-securities venue being built by OKX and Intercontinental Exchange (ICE), the owner of the New York Stock Exchange.

This week’s of objections included some of the biggest names yet: Microsoft (MSFT), Alphabet (GOOG, GOOGL), Goldman Sachs (GS) McDonalds (MCD) and three others on Monday, then Wells Fargo (WFC) and Cisco (CSCO) and four more firms on Friday rejected having tokenized versions of their shares traded on OKXICE, bringing the disclosed total now to 22 objecting issuers.

Seeing some of the world’s largest companies say no may not exactly be the start that tokenization advocates had hoped for.

But it also isn’t necessarily a major blow to the SEC’s experiment.

Read more: OKX-ICE co-chair Andrew Cuomo calls corporate objections a ‘natural response’ to tokenized stock plans Before trading in a company’s shares, a venue must notify the issuer and give the issuer 30 days to object.

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