Robinhood Lists Tokens of OKXICE Objectors
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Plus, DTCC starts tokenizing 34 securities gm, Defiers! These are the biggest stories in DeFi and crypto: JPMorgan Chase objected to having its stock traded as a token on OKXICE. Today Robinhood listed a JPMorgan token on its own chain. By 3:56 p.m. ET, holders had 96 of them, worth about $33,000. OKXICE is a planned venue from the crypto exchange OKX and Intercontinental Exchange, which owns the New York Stock Exchange. OKXICE would trade tokenized U.S. stocks under an exemption the SEC granted in September. Its Oct. 27 notice lists objections from 33 companies, with JPMorgan among the seven added that day. Robinhood added eight stock and ETF tokens to Robinhood Chain today, including JPMorgan and McDonald's, another objector. Can a company stop its stock from becoming a token? Under the SEC's order, a company can block its stock on a U.S. venue that uses the exemption. On Sept. 17, we wrote that a written objection filed by day 30 bars the listing outright. OKXICE had nine objectors by Oct. 15. By Oct. 27, objections covered 31 of the 63 symbols it first proposed. The same day, Ondo brought 15 stock tokens to Robinhood Chain, including one for Alphabet, which has also objected. Today Kamino began lending USDC against Backpack's Sandisk token, and Sandisk is another objector. The SEC's order lets an issuer object only to stock that an unaffiliated firm tokenizes for a...
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