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MEXC CEO Vugar Usi Zade says issuer brand risk drives tokenised stock objections
The MEXC chief tells Bitcoin.com News that companies such as Amazon and Tesla fear blame if unauthorised tokenised versions of their shares fail, not tokenisation itself.
Why it matters: Companies including Amazon and Tesla are resisting third-party tokenised versions of their shares, a dispute that shapes how onchain equity markets can grow.
Key points
- MEXC CEO Vugar Usi Zade says more than $300bn in stablecoins sits in blockchain wallets seeking exposure to traditional assets.
- AI companies made up six of MEXC's top 10 traded tokenised US equities and ETFs in September, taking 59% of top-10 volume.
- Nearly 50 firms, including Amazon, Tesla, Netflix and SpaceX, have objected to OKXICE's tokenised stocks plan.
MEXC CEO Vugar Usi Zade has told Bitcoin.com News that corporate objections to tokenised stocks stem from brand risk rather than opposition to tokenisation itself. He said issuers fear being blamed if an unauthorised tokenised version of their shares fails or trades away from the underlying price. Amazon, Tesla, Netflix, SpaceX, SoFi Technologies and Lam Research are among nearly 50 companies that have objected to OKXICE's tokenised stocks plan, according to the article.
Usi Zade points to capital dynamics as the main driver of the sector, which industry estimates value at close to $6bn. He said more than $300bn in stablecoins sits in blockchain wallets, giving holders a way to buy stocks without leaving crypto. MEXC data showed AI companies accounted for six of the top 10 most-traded tokenised US equities and ETFs in September, taking 59% of top-10 volume.
He argued that retail interest will hold up regardless of issuer statements, while institutions are waiting for issuer-approved versions. The US Securities and Exchange Commission's Innovation Exemption framework requires issuers to be notified before third parties tokenise their shares and lets them object. Usi Zade said that veto fragments liquidity in the short term but could legitimise the market later.
What to watch: No next step is reported beyond the SEC's Innovation Exemption framework, under which issuers must be notified before their shares are tokenised and may object.
Live updates on NewsFeeds:BitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.