22 companies block tokenization of shares on OKXICE

The number of companies objecting to the tokenization of their shares on the trading platform OKXICE has risen to 22. Six new companies, including Wells Fargo, Arm, and Intuit, have joined the objectors. The objection is specifically aimed at OKXICE and does not constitute a general ban on tokenization. The reasons for these companies' objections have not been disclosed. Wells Fargo did not provide any comments, while Arm and Intuit did not respond to inquiries. The objections are limited to the OKXICE platform, which has a temporary exemption from the U.S. securities regulator. This means that companies must be informed in advance if an independent party wishes to offer a token version of their share. The objection prevents OKXICE from offering the token under this exemption but does not automatically hinder other platforms from tokenizing shares. OKXICE, a collaboration between cryptocurrency exchange OKX and Intercontinental Exchange, aimed to offer token versions of 63 shares for trading outside regular market hours.

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