Twenty-two companies including Wells Fargo, Cisco, and Intuit have objected to tokenized stock trading on the planned OKX-ICE venue.
Regulation & Gov ·
Twenty-two companies have filed objections to their shares trading on the OKX-ICE tokenized stock venue, with Wells Fargo, Cisco, Marvell, Arm, Moderna, and Intuit among six recent additions to the list. The objections, disclosed in an Oct. 23 notice, have grown from nine companies on Oct. 15, though the notices do not specify the companies' reasoning or what effect the objections carry. The planned venue, a joint venture between Intercontinental Exchange and OKX's U.S. holding company, would enable 24/7 trading of tokenized U.S. stocks through blockchain-based liquidity pools, but its operating framework includes gaps such as absent circuit breakers beyond halts, no safeguards against transaction reordering, and the ability for administrators to modify smart contracts without prior notice to users.