Wells Fargo, Arm Holdings and Intuit are among six additional companies objecting to tokenized versions of their shares on OKXICE, bringing the reported total to 22 issuers.
The expanded list appears in a regulatory document reviewed by Reuters on October 23. OKXICE, the venture backed by crypto exchange OKX and Intercontinental Exchange, had proposed tokenizing 63 stocks.
The objections create a direct constraint on the platform’s planned offering. Under the exemption described in the report, a venue must notify a company before listing tokenized versions of its shares and cannot proceed when the issuer objects.
The list has grown since the first objections
Our earlier report examined nine companies that objected in OKXICE’s October 15 notice. The latest development is a broader set of refusals, rather than a new announcement that the venue has begun trading every proposed stock.
The new document does not explain each company’s reasons, according to Reuters. It would therefore be misleading to describe the entire group as opposing all blockchain securities or to assign a shared concern that the companies have not stated.
A refusal to participate in one arrangement can reflect questions about that arrangement’s design, responsibilities or commercial terms. It does not by itself answer whether an issuer might support another tokenized structure later.
The company and the trading venue have different roles
A tokenized share brings several relationships together. There is the company whose equity supplies the economic exposure, the party responsible for creating the token, the custodian holding the shares and the venue enabling transactions.
Putting a transfer on a blockchain does not collapse those roles into one. Investors still need to know who holds the underlying security, how ownership is recorded and which party delivers dividends or voting instructions.
That is why issuer participation matters even when the technology can represent a security successfully. A working smart contract cannot independently resolve the contractual and regulatory obligations surrounding the asset.
Trading access must preserve the underlying rights
The exemption described in the Reuters report requires the tokenized instruments to confer the same rights and privileges as conventional securities, including dividends and voting rights. Those requirements distinguish this proposal from products that merely provide price exposure to a stock.
For a buyer, the distinction can affect both routine ownership and what happens when something goes wrong. A claim against an intermediary is not necessarily equivalent to directly holding the security, even when the quoted prices track one another.
The practical test for the proposed venue is consequently more than the number of tokens it can technically create. It must secure eligible listings and demonstrate how investors receive the promised rights. The growing objection list shows that expanding supply also depends on decisions by the companies whose shares are involved.