Cisco, Wells Fargo, Marvell, Arm, Intuit and Moderna have opted out of OKXICE's plan to offer blockchain-based trading of their tokenized shares, bringing total objections to 22, according to Reuters. The objections are a hurdle for the joint venture of crypto exchange OKX and NYSE parent Intercontinental Exchange under the SEC's new framework, which gives issuers 30 days to block their shares from trading on a tokenized securities venue. OKXICE co-chairman Andrew Cuomo said objections were expected, as many companies prefer to wait and see how the new market works. The venture's original roster covered 62 companies, but Wells Fargo and Arm were not on it, so the 22 objections cannot all be counted as departures from that list. An objection blocks trading only on that venue and does not signal opposition to all forms of stock tokenization.
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