● Covered by 1 source · 1 reportMedium impact1 neutral
Tokenized Stock Trading Grows Internationally; US Companies Object to OKXICE Platform
Key points
- Tokenized stock volume on Robinhood Chain grew from $526M in July to $11.31B in September.
- Non-crypto markets now comprise 36.5% of Hyperliquid's perpetuals volume.
- Goldman Sachs, Microsoft, and others objected to their shares on the OKXICE platform.
- Tokenized equities were the fastest-growing category on Solana.
International Growth in Tokenized Stocks
Trading activity in blockchain-based versions of traditional financial assets, such as equities, is expanding in international markets. This trend is highlighted in a recent quarterly staking report by Bitwise Asset Management.
Robinhood Chain, a new network for trading various on-chain assets, saw its tokenized stocks volume surge from $526 million in July to $2.21 billion in August, and then to $11.31 billion in September. Additionally, non-crypto markets accounted for 36.5% of Hyperliquid's perpetuals volume, an increase from 32.7% in the previous quarter. Tokenized equities also emerged as the fastest-growing category on Solana.
US Companies Object to Tokenized Trading
Despite international growth, several major U.S. companies have expressed objections to the trading of tokenized versions of their shares. Goldman Sachs, Microsoft, Qualcomm, Caterpillar, McDonald's, Western Digital, and Alphabet are among the companies that have formally objected to their stock being traded on the OKXICE platform.
OKXICE, a tokenized securities venue launched by crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange, disclosed these objections in a public notice. This group joins earlier objectors including CoreWeave, UnitedHealth, Broadcom, Applied Digital, AppLovin, and Cerebras.
The Debate Over Tokenization
This divergence highlights an ongoing debate within the crypto industry regarding how to gain acceptance from companies for tokenized trading of their stock. Tokenization involves issuing digital representations of publicly traded securities or other assets on a blockchain network, with the potential to improve accessibility and liquidity.
A key question in this debate concerns the rights afforded to holders of tokenized assets. Specifically, there is discussion about whether investors should receive the same economic and shareholder rights, including voting rights, as they would with traditional shares. This issue gained prominence following a dispute between the CEOs of Robinhood and AMC over Robinhood's stock-token model.
Future Outlook for US Adoption
Currently, tokenized equity trading is concentrated in overseas markets where these products are more widely available. Industry observers are monitoring whether adoption will increase in the U.S., particularly after the SEC recently issued an innovation exemption.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Trading volume for tokenized stocks is increasing in international markets, with significant growth observed on platforms like Robinhood Chain, Hyperliquid, and Solana. Concurrently, major US companies including Goldman Sachs and Microsoft have formally objected to their shares being traded on the OKXICE tokenized securities platform.