Bloomberg: Crypto industry drives tokenized stock trading, accelerating amid controversy

According to TechFlow, on November 11, Bloomberg reported that the crypto industry's efforts to reshape stock trading are accelerating amid widespread opposition. Represented by the tokenized stock platform in partnership between OKX and NYSE parent Intercontinental Exchange (ICE), these products plan to enable shares of U.S.-listed companies to trade as tokens and extend tradable hours. Robinhood has expressed support for listing its own shares on the platform, while Apple, Meta and several other companies have refused, citing lack of authorization; the number of publicly listed companies openly opposing the initiative has continued to increase since late October. The controversy centers on three issues: whether tokens are issued by third parties or authorized by issuers, who maintains the shareholder register, and whether token prices could decouple from the underlying shares. Supporters argue this can lower barriers to cross-border trading and extend trading hours around the clock; opponents worry investors may mistake tokens for company-endorsed products and question whether shareholder rights are diluted.

Source: TechFlow