Wells Fargo, Arm Holdings and Intuit have joined the companies opposing the tokenization of their shares on OKXICE, bringing the total number of objections to 22. The objections, cited in a regulatory document reviewed by Reuters, are not explained and complicate plans by OKX and ICE to offer 63 tokenized stocks. The two partners filed with the US Securities and Exchange Commission on October 5 to launch the platform under a five-year innovation exemption. The framework allows eligible platforms to trade tokenized stocks without complying with certain requirements imposed on traditional exchanges, while preserving investor rights, including dividends and voting rights. Andrew Cuomo, OKXICE cochairman, described the objections as a natural response to a limited experiment, while Nasdaq warned that insufficient regulatory safeguards could fragment liquidity and undermine price discovery.
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