59 giants join forces to block: Apple (AAPL.US) voted against the US stock chain upgrade

According to Woofun AI, Apple (AAPL.US) officially used the 30-day veto granted by the US Securities and Exchange Commission's 'Innovation Exception Clause' to stop the tokenization process of its shares on the OKXICE TSV platform.

This move was not an isolated incident; it was a key part of a collective boycott by 59 issuers, which directly brought major regulatory tests aimed at connecting Wall Street to the cryptocurrency market to a substantial standstill.

The OKXICE TSV project was jointly initiated by cryptocurrency exchange OKX and New York Stock Exchange parent company Intercontinental Exchange (ICE.US). The original plan was to rely on the Uniswap v4 pool on the XLayer blockchain to enable 24/7 on-chain transactions.

However, many giants including Apple (AAPL.US), Home Depot (HD.US), General Electric Vernova (GEV.US), J.P. Morgan Chase (JPM.US), Goldman Sachs (GS.US), and SpaceX (SPCX.US), plus the other five companies in the “Big Seven” other than Apple (AAPL.US) and Meta (META.US), together form a strong resistance network.

The underlying reason lies in traditional financial institutions' defense of capital control and behind the scenes lobbying pressure from established exchanges such as NASDAQ (NDAQ.US). According to data compiled by Woofun AI, although this cooperative boycott suspended domestic compliance integration, it failed to stop the flow of international capital; on the contrary, it revealed a loophole in the border of regulatory jurisdiction.

Notably, overseas jurisdictions have spontaneously formed independent blockchain liquidity markets. On Kraken, Bybit, and OKX's international platforms, the ban on US residents did not prevent third-party versions of US stock token transactions. Among them, Backed Finance's 1:1 escrow support AAPLx Token issued on Solana and Ethereum, Ondo's AAPLon product with automatic dividend reinvestment function, and Backpack's AAPL Token, which can be exchanged for physical stocks, all showed strong activity. As global Bitcoin holdings are expected to reach 4.5% to 6% of the total population by the end of 2026, this offshore liquidity is reshaping asset pricing logic.

American companies are trying to maintain market dominance through local regulations, but the free-flowing nature of global capital makes it difficult for a single market blockade to work. The boom in the overseas non-custodial market shows that demand for tokenization has not disappeared, but has moved to overseas regions where regulations are relatively relaxed. This is a typical microcosm of the capital market once again facing the impact of decentralized liquidity following the digitization of traditional finance. In the future, the regulatory game will shift from 'whether to tokenize' to 'how to govern cross-border tokens'.