Intel, IBM, Oracle and IonQ join companies objecting to OKX-ICE tokenized stock plan

Four more companies opt out of OKX-ICE tokenized stock exchange

Intel, IBM, Oracle and IonQ have joined other US firms that are objecting to plans for a tokenized stock exchange proposed by crypto exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.

OKX updated its proposal for the OKXICE exchange on Monday, naming the four companies among those filing objections to having their US stocks listed in tokenized form. In total, 26 companies have filed objections, including Alphabet, Wells Fargo and Goldman Sachs.

More than four in ten proposed names have said no

• OKXICE originally proposed 62 companies for listing tokenized stocks.


• 26 of those companies have now filed to object, about 41%.


• The latest objectors are Intel, IBM, Oracle and IonQ.


• Many of the opt-outs are already listed on Nasdaq or the New York Stock Exchange.

What the proposal and the SEC rule say

OKXICE filed with the US Securities and Exchange Commission (SEC) under a temporary innovation exemption. That exemption lets Tokenized Securities Venues (TSVs), which are the licensed platforms that can offer tokenized stocks, run limited trading in tokenized National Market System (NMS) stocks.

In September, Nasdaq told companies thinking about the exemption to be "cautious". The exchange also invested $100 million in Payward, the parent company of crypto exchange Kraken, as part of its own push into tokenized assets.

Co-chair expects more opt-outs

Former New York Governor Andrew Cuomo, co-chair of the tokenization venture, called the objections a "very natural response". He said he expects more company names to be added to the opt-out list.

What remains uncertain

The source article reports the objections and the background context. It does not include the individual reasons each of the four companies chose to opt out, and the filing does not show whether they filed reasons publicly. It is also not clear from the source whether OKXICE can still launch without all 62 names, or how the exemption limits will affect trading once the venue opens.

Why this matters

The move shows that some well-known US companies are reluctant to have their shares tokenized, even after regulators opened a narrow pathway for it. The pattern may affect how broadly the new tokenized stock market grows.

Sources

• Cointelegraph

Read also: JPMorgan, Coca-Cola, Dell among firms opting out of OKX-ICE tokenized stock venue

Read also: Intel, Oracle, IBM, and IonQ object to OKX–ICE tokenized stock plans, pushing total issuer objections to 26