More Than Half of Targeted Firms Object to OKX-ICE Tokenized Stock Plan
Nvidia, Nike, Microsoft and dozens of other companies have objected to having their shares tokenized on a trading venue backed by OKX and Intercontinental Exchange, bringing the total to 50.
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AfroEuropa desk
A proposed on-chain stock trading platform backed by crypto exchange OKX and Intercontinental Exchange (ICE) is facing opposition from more than half of the companies it aims to list, according to reporting from BitKE and Decrypt.
The venture, referred to as OKX-ICE, plans to offer tokenized versions of publicly traded U.S. stocks, enabling round-the-clock trading and on-chain settlement. To do so, it intends to rely on a five-year innovation exemption granted by the U.S. Securities and Exchange Commission.
Decrypt reported that Nvidia, Costco, Nike and nine other companies recently objected to the trading of their shares on the planned venue, pushing the total number of objecting firms to 50. According to BitKE, the companies resisting the plan also include Microsoft, Alphabet, JPMorgan Chase, Goldman Sachs and Coca-Cola, while Intel, IBM, Oracle, Cisco and IonQ have likewise joined the opposition.
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