Intel, Oracle, IBM join growing list of firms objecting to OKX–ICE tokenized stock plans
Major technology firms including Intel, Oracle, and IBM have formally objected to OKX–ICE's plans to offer tokenized versions of their stocks. This growing list of objectors highlights corporate caution regarding the SEC's new framework for blockchain-based stock trading.
Why it matters
The resistance from major issuers poses a significant challenge to the adoption of tokenized securities and the SEC's experimental innovation framework.
The four companies were named in an updated public notice dated Monday, Oct. 26 , from OKXICE, the two firms’ joint venture. They join earlier objectors including Microsoft, Alphabet, Goldman Sachs, Cisco and Wells Fargo.
The growing list underscores a hurdle for OKXICE and the SEC’s new framework for tokenized stock trading: building a market that issuers are willing to join. The agency’s five-year “Innovation Exemption” gives qualifying venues room to test round-the-clock blockchain-based trading of stocks, and it also gives public companies an option to block their shares from being offered.
OKXICE issued its initial public notice on Oct. 4, outlining plans to use Uniswap v4 liquidity pools on OKX’s XLayer blockchain, with transactions settled in stablecoins. The venue would use automated market makers — software that executes trades through pools of assets rather than matching buyers and sellers through a conventional order book.
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