Intel, IBM, Oracle Object to OKX-ICE Tokenized Stock Exchange Plan

Four major technology firms have formally objected to having their stocks listed on a proposed tokenized stock exchange from OKX and Intercontinental Exchange (ICE), bringing the total number of objecting companies to 26.

In an update filed Monday, OKX reported that Intel, IBM, Oracle, and quantum computing firm IonQ are the latest companies to opt out of the OKXICE exchange plan. They join other prominent objectors including Alphabet, Wells Fargo, and Goldman Sachs.

The proposed venue would list tokenized versions of U.S. stocks under a temporary innovation exemption approved by the Securities and Exchange Commission (SEC) in September. OKXICE initially proposed listing 62 companies, meaning roughly 41% have now chosen not to participate.

Former New York Governor Andrew Cuomo, co-chair of the tokenization venture, called the objections a “very natural response” and expects more names to be added. The pushback comes as traditional exchanges like Nasdaq, which invested $100 million in Kraken parent Payward, advise caution regarding the new tokenized securities rules.