Growing List of Firms Object to OKX-ICE Tokenized Stock Plans
Intel, Oracle, IBM and IonQ have joined a growing list of companies objecting to having tokenized versions of their shares traded through OKX and Intercontinental Exchange's blockchain venture, bringing the total number of objections to 26. About 37% of the companies on OKXICE's original list have now opted out, according to CoinDesk. From the report: The four companies were named in an updated…
Intel, Oracle, IBM and IonQ have joined 26 other firms in objecting to the trading of their tokenized shares through OKX and Intercontinental Exchange's blockchain venture, OKXICE, according to a recent update. The companies are now in disagreement with OKXICE, which is a joint effort between the two firms. The list was expanded upon in a public notice dated October 26, which was sent by OKXICE.
Earlier objectors to the venture include Microsoft, Alphabet, Goldman Sachs, Cisco, and Wells Fargo. This growing list of dissenting companies highlights a challenge for OKXICE and the SEC's new framework for tokenized stock trading. The venture aims to enable round-the-clock blockchain-based trading of stocks, while also providing public companies the option to prevent their shares from being offered in this manner.
OKXICE announced its initial plans on October 4, specifying that it would utilize Uniswap v4 liquidity pools on OKX's XLayer blockchain, with transactions settled in stablecoins. The framework requires venues to notify issuers and grant them a 30-day window to object before offering tokenized versions of their shares.
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