Coca-Cola, JPMorgan Chase, Dell, AMD, Applied Materials, Adobe and Sandisk formally objected to a proposal by OKXICE to tokenize their shares, according to an updated public notice dated October 27. The additions brought the number of objecting companies to 33. The notice does not give their individual reasons, and the objections do not necessarily mean they oppose tokenization more broadly.
OKXICE, a venture between OKX and Intercontinental Exchange, has proposed blockchain-based stock tokens that could trade around the clock. It initially proposed tokenizing shares of 63 companies under a U.S. Securities and Exchange Commission exemption that lets issuers object to unauthorized third-party tokenization. The plan has not been described as approved or operating.
