Intel, Oracle, IBM join growing list of firms objecting to OKX–ICE tokenized stock plans The latest notice added four objections, bringing the total to 26 as the joint venture prepares to test the SEC’s new framework for blockchain-based stock trading. – IBM, Oracle, Intel and…
nQ have objected to OKXICE offering blockchain-based versions of their shares, raising the total number of issuer objections to 26. – The objections highlight issuer caution over the SEC’s five-year Innovation Exemption, which permits round-the-clock blockchain trading but gives companies 30 days to block their inclusion. – The objections may reflect a wait-and-see approach, with issuers seeking more clarity on shareholder protections and the benefits of tokenized trading before participating, industry experts told CoinDesk previously. 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
The four companies were named in an updated public notice dated Monday, Oct. 26, from OKXICE, the two firms’ joint venture. They join earlier objectors including Microsoft, Alphabet, Goldman Sachs, Cisco and Wells Fargo. The growing list underscores a hurdle for OKXICE and the SEC’s new framework for tokenized stock trading: building a market that issuers are willing to join.
The agency’s five-year “Innovation Exemption” gives qualifying venues room to test round-the-clock blockchain-based trading of stocks, and it also gives public companies an option to block their shares from being offered. OKXICE issued its initial public notice on Oct. 4, outlining plans to use Uniswap v4 liquidity pools on OKX’s XLayer blockchain, with transactions settled in stablecoins. The venue would use automated market makers — software that executes trades through pools of assets rather than matching buyers and sellers through a conventional order book….