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Intel, IBM, Oracle and IonQ latest to object to OKX-ICE tokenized stocks
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- DeepHorus
Intel, IBM, Oracle, and IonQ have objected to the listing of their US stocks in tokenized form on OKXICE, a proposed exchange by OKX and Intercontinental Exchange (ICE). The four were added to a growing list of objectors in a Monday update to OKXICE's SEC filing. Their objections bring the total number of opposing companies to 26.
The proposal follows SEC approval of temporary innovation exemptions for tokenized US stocks, letting Tokenized Securities Venues (TSVs) offer limited trading in tokenized National Market System stocks. OKXICE initially filed to list 62 companies. Many objectors already trade on Nasdaq and the NYSE.
With the latest additions, more than 40% of the initially proposed companies have now asked to opt out. The list of objectors includes Alphabet, Wells Fargo, and Goldman Sachs. As of Monday, 26 of the 62 companies—about 41%—have chosen not to participate.
The pushback highlights concerns among traditional issuers about tokenized representations of their shares. In September, Nasdaq advised companies to be "cautious" about participating in the innovation exemption. Yet Nasdaq itself invested $100 million in Kraken parent Payward as part of its tokenized assets push.
Andrew Cuomo, former New York Governor and co-chair of the tokenization venture, called the objections a "very natural response" from companies. He expected more names to be added to the list. Cuomo's comments suggest the venture anticipates further pushback but remains committed.
OKXICE will need to navigate these objections as it seeks to launch the tokenized stock exchange. The outcome could shape the future of tokenized equity trading in the US and influence how regulators balance innovation with investor protection. The venture continues to engage with companies and regulators to address concerns.
