Intel, Oracle, IBM and IonQ object to OKX-ICE tokenized stock trading
Briefing by News4U · First published
Four more U.S. public companies have opted out of OKXICE plans to trade blockchain-based versions of their shares, lifting issuer objections to 26 under the SEC’s Innovation Exemption framework.
IBM, Oracle, Intel and IonQ have opted out of plans by crypto exchange OKX and NYSE parent Intercontinental Exchange (ICE) to offer blockchain-based trading of their shares, bringing the total number of issuer objections to 26, CoinDesk reported. The four companies were named in an updated OKXICE joint-venture public notice dated Monday, Oct. 26, and join earlier objectors including Microsoft, Alphabet, Goldman Sachs, Cisco and Wells Fargo. [1]
OKXICE’s Oct. 4 notice outlined plans to use Uniswap v4 liquidity pools on OKX’s XLayer blockchain with stablecoin settlement under the SEC’s five-year Innovation Exemption for round-the-clock blockchain stock trading. Venues must notify issuers and give them 30 days to object before offering tokenized versions of their shares. All four newly disclosed objectors were among OKXICE’s original roster of 62 companies, bringing objections from that selection to 23, or about 37%, CoinDesk tallied. [1]
CoinDesk said the growing objections highlight early issuer caution: objecting costs nothing, while silence can allow trading to begin without a later withdrawal mechanism. OKXICE co-chairman Andrew Cuomo previously described the pushback as expected, saying many companies prefer to wait and see rather than be first to participate. [1]
Sources
- Intel, Oracle, IBM join growing list of firms objecting to OKX–ICE tokenized stock plans
CoinDesk · · Full text