22 firms object to shares on OKX-ICE token venue

A proposed blockchain-based stock market is meeting resistance from companies whose shares it wants to represent. By 23 October, 22 issuers had objected to their stock trading as tokens on OKXICE. Crypto exchange OKX and New York Stock Exchange owner Intercontinental Exchange back the venue. Wells Fargo, Arm and Intuit are among the latest names.

Tokenized shares are digital representations of stocks. Under temporary US rules, a venue must notify the company before offering an unaffiliated party's token. It cannot list that token if the company objects. Reuters says the public document gives no reasons for these objections.

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The objections do not outlaw tokenized shares across every platform. They show that permission from stock issuers may be a practical hurdle for this specific venue's launch.