Cagney Questions Whether OKXICE Stock Tokens Can Support Financing

Figure co-founder Mike Cagney questioned whether OKXICE’s planned tokenized-stock venue would serve investors seeking leverage or stock lending, putting the platform’s financing limits in focus as it plans a 24/7 market for U.S. shares. The question sits alongside a separate constraint on how the proposed venue would operate. Under the SEC’s temporary framework, an issuer has 30 calendar days from receiving written notice to object to an unaffiliated third party’s tokenized stock on a particular venue. A timely objection prevents that venue from offering the token under the exemption, but does not bar other tokenization arrangements involving the same shares. The framework also limits financing activity on a qualifying venue.

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