JPMorgan, Coca-Cola, Dell also say 'no' to OKX-ICE tokenized tock trading plan
Nearly half the companies on the venture’s original roster have now objected to their shares trading on the planned blockchain-based venue.
JPMorgan Chase, Coca-Cola, and Dell Technologies have joined the ranks of companies opposing tokenized stock trading plans proposed by OKX and NYSE parent Intercontinental Exchange. As of Oct. 27, nearly half of the original 62 companies on the venture's roster have opted out, with objections now totaling 33. The joint venture, OKXICE, had initially proposed round-the-clock trading through Uniswap v4 liquidity pools on OKX's XLayer blockchain, with transactions settled in stablecoins.
The framework, granted by the SEC's "Innovation Exemption," allows qualifying platforms to test blockchain-based stock trading. However, companies are still deliberating the potential benefits and challenges of such a market structure.
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