Apple and Home Depot join list of objectors to tokenized stock plan pushed by NYSE owner

A planned blockchain venture to bring shares of major U.S. companies into round-the-clock trading is facing objections from most of the businesses whose stocks were included.

54 companies object to proposed platform

The initiative, led by crypto firm OKX and the parent company of the New York Stock Exchange, announced last month that it planned to offer 24-hour trading in tokenized shares of 62 public companies.

By Thursday, 54 of those companies had objected to having their shares traded on the platform. Apple and Home Depot are among the companies identified as objectors, adding prominent corporate names to the growing opposition.

Joint venture under pressure

The project is cochaired by former New York Gov. Andrew Cuomo. Its proposal would place representations of U.S. stocks on a blockchain, with trading available beyond the traditional market schedule.

The scale of the objections puts the venture under significant pressure before the proposed service has been broadly established. The companies’ responses also raise a central challenge for tokenized-market plans: securing participation from the public companies whose shares would be represented.

With 54 of the 62 companies objecting as of Thursday, the effort’s proposed lineup has faced substantial resistance. The available information does not indicate whether the venture will change its plans or how the objections will be resolved.

What happens next

The venture’s future remains unclear. Its sponsors have announced the intended trading model, but the objections show that the proposal has not received broad support from the companies included in the initial plan.