Trading of blockchain-based stocks is surging offshore, but major U.S. firms including Goldman Sachs and Microsoft have formally objected to tokenised versions of their shares on a new exchange, highlighting a divide over the benefits of tokenisation.
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01Summary
- 01Volume of tokenised stocks on Robinhood Chain surged from $526m in July to $11.31bn in September.
- 02Goldman Sachs, Microsoft, Qualcomm, Caterpillar, McDonald's, Western Digital and Alphabet are among 16 companies objecting to tokenised shares on OKXICE.
- 03OKXICE, a venue backed by OKX and Intercontinental Exchange, must give companies 30 days' notice before trading their tokenised stocks under an SEC exemption.
- 04Tokenised equities were the fastest-growing category on Solana in the latest quarter, and non-crypto markets made up 36.5% of Hyperliquid's perpetuals volume.
- 05Industry analysts say companies may later embrace tokenisation for benefits such as global investor access and 24/7 trading.
02Why it matters
This matters as tokenised stocks could reshape how investors trade equities globally, offering round-the-clock access and use as DeFi collateral, but corporate pushback may slow adoption in the U.S. while growth accelerates abroad.
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