Wells Fargo, Arm Holdings and Intuit are among six more companies that have barred tokenized versions of their stock from OKXICE, the trading venue jointly owned by Intercontinental Exchange and OKX, Reuters reported on Friday, citing a regulatory document it reviewed.
The additions bring the number of issuers that have objected to 22, according to Reuters. Unchained has not seen that document and could not locate an updated notice on the venue’s website, where the most recent public version is dated Oct. 19. Reuters did not name the other three companies.
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How an Objection Works
OKXICE is set up under a five-year exemption the SEC issued on Sept. 17, which lets qualifying tokenized-stock platforms operate without being treated as an exchange. Before a venue lists a token of a company’s shares that the company did not create itself, it has to send that company written notice and wait at least 30 calendar days. A written objection inside that window keeps the token from trading, and the venue then has five business days to disclose the objection in a revised public notice.
The venue plans to run permissioned Uniswap v4 pools on XLayer, pairing the stock tokens with stablecoins, and only wallets holding a soulbound token it issues can trade. Its disclosures state it is not registered with the SEC for these activities.
From Nine to 22
The list has grown quickly. The venue’s Oct. 15 notice named nine objectors, among them Broadcom, Verizon and UnitedHealth. Its Oct. 19 notice raised the count to 16, adding Goldman Sachs, Microsoft, Qualcomm, Caterpillar, McDonald’s, Western Digital and Alphabet.
OKX and ICE had planned to offer tokens of 63 stocks through the venture and the venue has not announced a launch date. As of the Oct. 19 notice, companies on the original roster with no disclosed objection included Nvidia, Tesla, Apple and Amazon.
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The post Wells Fargo, Arm, Intuit Keep Their Stock Off OKX-ICE Token Venue as Objections Reach 22 appeared first on Unchained.