Intel, IBM, Oracle and IonQ have objected to having their U.S. stocks listed in tokenized form on the exchange proposed by cryptocurrency exchange OKX and ICE, the parent of the New York Stock Exchange. With these four additions, 26 companies have now filed objections, including Alphabet, Wells Fargo and Goldman Sachs. The proposal came weeks after the SEC approved temporary innovation exemptions for tokenized U.S. stocks, under which Tokenized Securities Venues (TSVs) can offer limited trading in tokenized NMS stocks. Many companies opting out have U.S. listings on Nasdaq and the NYSE, and Nasdaq advised issuers in September to be “cautious” about participating. OKXICE initially proposed 62 companies listing tokenized stocks, so about 41% have chosen not to participate as of Monday. Co-chair Andrew Cuomo, a former New York governor, said objecting was a “very natural response” and he expects more names to be added.
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