Cryptoupdated 31m ago2 min read
Wells Fargo, Arm, Intuit Oppose OKXICE Tokenized Stock Plan With 22 Companies
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Wells Fargo, Arm Holdings, Intuit join 22-company objections to OKX-ICE tokenized stock plan. Objections relate to tokenized listings of U.S.-listed stocks under SEC exemption.
Explore source coverage 3 source types
Directory totals describe our source library, not outlets checked for this story.
5 outlets told this the same way.
OKXICE faces issuer pushback
Wells Fargo, Arm Holdings, Intuit and 19 other companies opposed OKXICE’s plan to trade tokenized shares, and the objections brought the total to 22 companies, according to reports.
OKX and Intercontinental Exchange planned to tokenize 63 stocks through their OKXICE venture, but the platform’s proposed rules prevented companies’ shares from being listed if the issuers formally object.
OKX and ICE had asked the U.S. Securities and Exchange Commission to launch tokenized stocks under a new innovation exemption, and the exemption would allow qualifying platforms to operate without meeting certain traditional stock exchange requirements.
The SEC mechanism described in the sources required that the operator provide written notice to the issuer and wait at least 30 calendar days from when the issuer receives the notice, before trading shares represented by tokens on the blockchain 24 hours a day, seven days a week.
Nasdaq warns on risks
Nasdaq guidance in September told issuers considering the SEC innovation exemption for trading tokenized stocks that they “must be cautious about their participation,” and it warned that “consequences for liquidity, price discovery, and long-term shareholder value may not become apparent until well after the experiment is underway.” The objections expanded as Microsoft and Alphabet joined the rejection of OKXICE negotiating tokenized versions of their shares, and the public notice of October 19, 2026 lifted the list of objections to 16 companies.
OKXICE co-chair Andrew Cuomo told Cointelegraph on October 20 that he expected some companies to prefer watching how the project operates before participating, and he anticipated more objections. The sources also described how the October 4 proposal listed 63 symbols of 62 companies because Alphabet appeared twice, and the October 19 notice required distinguishing between companies and stock symbols.
What the objections change
The SEC order of September 17, 2026 established a mechanism for tokenized shares by a third party not affiliated with the issuing company, and it required the operator to make an issuer objection public within a maximum of five business days. The sources stated that if a company submits a written objection within the period, the platform cannot offer those securities there under the exemption, and the rejection affects 15 companies from the initial proposal.
OKXICE’s proposal contemplated trading shares represented by tokens on the blockchain 24 hours a day, seven days a week, but the sources said the rejection prevents offering those securities on the platform for the companies that object. OKXICE co-chair Andrew Cuomo expected more objections as issuers tried to avoid being the first to test the stock model, and the sources framed the pushback as highlighting regulatory and market-structure challenges for bringing tokenized versions of listed equities into broader trading.