Both crypto startups and more traditional financial institutions have spent the past year promoting tokenized stocks as the next major use case of blockchain technology. But many publicly traded companies aren’t interested in the sales pitch. Microsoft, Alphabet, McDonald’s, Goldman Sachs, and Wells Fargo are some of the latest companies to reject plans for tokenized versions of their shares, joining previous objections from Verizon and others.

Last month, AMC Entertainment CEO Adam Aron also publicly clashed with Robinhood over the fintech firm’s decision to tokenize the theater chain’s stock without permission, calling the practice “contemptible, outrageous, disgusting, detestable, inexcusable, vile.”

Companies Exercise Their Objection Rights

According to Reuters , at least 22 companies have formally objected to stock tokenization plans by OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange (the parent of the New York Stock Exchange).…