OKX-ICE co-chair Andrew Cuomo calls corporate objections a ‘natural response’ to tokenized stock plans
Former New York governor Andrew Cuomo, an OKX board member, described corporate resistance to tokenized stock plans as a natural 'wait and see' response. Sixteen major companies have formally objected to having their shares traded on the proposed OKX-ICE platform.
Why it matters
This highlights the friction between traditional corporate governance and the push for 24/7 blockchain-based stock trading.
“This is a very natural response,” Cuomo, an OKX board member and former New York governor, said during a press call on Tuesday. “The model was designed to give companies the right to determine whether they want to opt in or opt out.”
“We always anticipated that, because this is such a dramatic and revolutionary change, many companies would want to wait and see how it goes rather than be the first to participate,” he added.
His remarks followed a Monday public notice showing 16 companies had objected to having tokenized versions of their shares traded on OKXICE, the planned venue from crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange (ICE).
Seven newly disclosed objectors — Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald’s and Western Digital — joined companies including Broadcom, Verizon and UnitedHealth.
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