Microsoft and Alphabet object to blockchain versions of their shares—but their veto only goes so far
Source: Fortune ·
Sixteen companies have opposed plans to trade tokenized versions of their shares on Cuomo-backed platform OKXICE.
From the source
A growing number of companies are pushing back against tokenized trading of their shares. Microsoft and Alphabet are the latest to complain about the practice, joining 14 other public companies that have formally objected to a plan by OKXICE, a new platform co-chaired by former New York Gov. Andrew Cuomo, to trade blockchain-based versions of their shares. The two tech giants joined Goldman Sachs, Caterpillar, McDonald’s, Qualcomm and Western Digital in a new batch of objections disclosed Monday. They joined nine companies—Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon, Applied Optoelectronics, Broadcom and UnitedHealth Group—whose objections were disclosed last week. Cuomo downplayed the wave of objections, framing the pushback as a predictable reaction to a major market shift. “We always anticipated that, because this is such a dramatic and revolutionary change, many companies would want to wait and see how it goes rather than be the first to…