Switch to seedless. Get 30% off with SWITCH30 till Oct 2622 companies object to OKXICE stock tokenization
7.1 Regulation Twenty-two major companies, including Wells Fargo and Microsoft, have objected to the tokenization of their shares on OKXICE, stalling the project despite SEC approval.
Twenty-two major companies, including Wells Fargo, Arm Holdings, Intuit, Microsoft, Alphabet, Goldman Sachs, Broadcom, and Verizon, have formally objected to the tokenization of their shares on the OKXICE platform—a joint venture between OKX and Intercontinental Exchange. This opposition, detailed in a regulatory document reviewed by Reuters, underscores the hurdles facing stock tokenization, which allows digital tokens representing securities to be traded on a blockchain. Although the U.S. SEC recently approved such products, regulations require that a written objection from a company prevents the platform from offering its shares in tokenized form. Most of the objecting companies are listed on Nasdaq or NYSE. OKXICE initially planned to tokenize 63 stocks, but the number of objections quickly rose from nine to sixteen, and then to twenty-two within days. The specific reasons for these objections have not been disclosed.
