Wells Fargo and 21 other companies block OKX and ICE's tokenization venture from creating security tokens of their shares, citing new SEC rules allowing issuers to opt out.
Regulation & Gov ·
A joint venture between OKX and ICE has encountered significant corporate resistance to its tokenization plans. Twenty-two companies, including Wells Fargo, have moved to block the venture from creating security tokens representing their shares. The objections reflect corporate hesitation toward placing equities on blockchain infrastructure, even as the tokenization market develops.
The blocking action became possible following recent SEC rule amendments that permit public companies to opt out of equity tokenization initiatives. Previously, issuers lacked explicit mechanisms to refuse participation in such programs. The new rules grant corporations direct control over whether their securities can be tokenized, shifting the regulatory framework to favor issuer consent rather than default permission.
The coordinated refusal by 22 entities signals potential headwinds for tokenized equity platforms seeking to launch at scale. It remains unclear whether additional companies will follow suit, how the venture plans to respond, or whether the blocklist will expand further as implementation of the SEC rules continues.