Intel, Oracle, IBM, and IonQ object to OKX–ICE tokenized stock plans, pushing total issuer objections to 26
Intel, Oracle, IBM, and IonQ reject shares in OKX–ICE blockchain stock venue
Intel, Oracle, IBM, and IonQ have objected to plans by crypto exchange OKX and NYSE parent Intercontinental Exchange (ICE) to offer blockchain-based versions of their shares. The four companies were named in an updated public notice from OKXICE, the two firms' joint venture, dated Monday, Oct. 26. The additions bring the total number of issuer objections to 26.
OKXICE said under the rules it must notify each company and give it 30 days to object before offering tokenized versions of its shares. Tokenized shares are digital records of ownership that can be traded on a blockchain, which is a shared ledger used to keep track of transactions.
The newly named objectors join an earlier group that includes Microsoft, Alphabet, Goldman Sachs, Cisco, and Wells Fargo. They also were among the 62 companies in OKXICE's original proposed roster.
Key numbers behind the objections
- 26 total issuer objections to OKXICE's plan.
- 4 new objectors: IBM, Oracle, Intel, and IonQ.
- 62 companies on OKXICE's original proposed roster.
- 23 objections came from companies on the original roster, or about 37%.
- 3 other objectors — Cerebras Systems, Arm Holdings, and Wells Fargo — were not on the original roster.
- 30 days is the window issuers have to block their shares under the SEC framework.
How the OKXICE plan works
OKXICE's initial public notice, issued Oct. 4, said it plans to use Uniswap v4 liquidity pools on OKX's XLayer blockchain, with transactions settled in stablecoins. Stablecoins are digital tokens designed to hold a steady value, usually tied to a currency like the US dollar.
The venue would use automated market makers. These are pieces of software that execute trades through pools of assets instead of matching individual buyers and sellers through a conventional order book.
Why issuers are opting out
The objections reflect early caution from companies about trading their shares under the SEC's five-year Innovation Exemption. This rule gives qualifying trading venues room to test round-the-clock blockchain-based stock trading. At the same time, it lets public companies block their own shares from being offered.
Industry experts who spoke to CoinDesk said the objections may signal a wait-and-see approach. Some issuers appear to be asking for more clarity on shareholder protections and on the benefits of tokenized trading before agreeing to participate. Experts said the rules give companies a say in whether their shares come onchain, but also tend to make opting out the easier choice.
What remains uncertain
The sources do not say whether OKXICE will try to win back any of the objecting companies, or whether it will adjust its roster as a result. They also do not state how many of the 26 objectors plan to object permanently versus waiting to see how the framework works in practice.
What it could mean for tokenized stocks
A growing list of objectors could make it harder for OKXICE to build a market with enough companies willing to join. The value of the pilot depends on whether issuers agree to list their shares and whether investors are willing to trade them.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.