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Project update
OKXICE loses 22 of 63 planned tokenized stocks to issuer objections
The joint venue from OKX and Intercontinental Exchange, owner of the New York Stock Exchange, filed to launch under the SEC's new innovation exemption. Under that framework, platforms must notify companies before listing tokenized versions of their shares and stop if the issuer objects. Six more companies, including Wells Fargo, Arm and Intuit, have now objected.
OKXICE planned to tokenize 63 stocks. Objections have now reached 22 issuers, about a third of the list.
Earlier objectors include Microsoft, Alphabet and Goldman Sachs, and the count has grown quickly over the past week. The issuer veto has become the main constraint on tokenized equity venues: 24/7 trading and fast settlement only work with a deep bench of liquid large-cap names.
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