Nine U.S.-Listed Companies Object to OKXICE Tokenized Shares
- Nine companies, including Broadcom and Verizon, have formally objected to the tokenization of their shares by OKXICE.
- OKXICE aims to enable trading of digital versions of U.S. stocks around the clock, with each token representing one underlying share.
- The Securities and Exchange Commission has granted temporary regulatory relief but allows issuers to object to third-party tokenization.
- The objections create a significant hurdle for OKXICE’s plans, as companies can prevent their shares from being included in the trading pools.
OKXICE, a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE), faces resistance from nine major companies over its plan to tokenize shares for round-the-clock trading using blockchain technology. This initiative highlights the tension between technological advancements in financial markets and corporate control over share distribution.
The issuer objections are not merely symbolic but pose a practical challenge for OKXICE’s proposed model, potentially limiting its ability to offer tokenized shares despite regulatory allowances. (Source)
