Wells Fargo, Intuit and Arm were among six more companies that formally objected to OKXICE tokenizing their shares, according to a regulatory document obtained by Reuters. The additions brought the reported total to 22. The objections block those third-party offerings under a temporary SEC framework, but do not necessarily mean the companies oppose stock tokenization in general.
OKXICE, a venture involving OKX and Intercontinental Exchange, has proposed blockchain-based trading of shares around the clock; it initially proposed tokenizing 63 stocks. The framework requires advance notice to issuers and lets them block an offering by objecting. Former New York Gov. Andrew Cuomo, who co-chairs the venture, said at an Oct. 20 press conference that some companies would embrace the approach while others would wait.
