Six additional companies have reportedly objected to having their stocks listed in tokenized form on OKXICE, the proposed stock platform tied to a joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.
Reuters reported Friday that the platform now faces objections from 22 companies in total. The most recent additions reportedly include Wells Fargo, Arm Holdings and Intuit, which join Microsoft and Google parent Alphabet among objections made in the past week.
Nasdaq listings account for most objections
Of the companies objecting, 16 have listings on Nasdaq, while six are listed on the NYSE, according to the report.
Nasdaq issued guidance in September for companies weighing the US Securities and Exchange Commission's innovation exemption for trading tokenized stocks. The exchange said issuers "must be cautious about their participation," adding that "consequences for liquidity, price discovery, and long-term shareholder value may not become apparent until well after the experiment is underway."
More objections anticipated
OKXICE co-chair and former New York Governor Andrew Cuomo told Cointelegraph on Tuesday that the venture expected further objections, describing them as an effort by companies to avoid being the first to test the stock model.
The venture proposed 62 companies for tokenized stock listings when it filed with the SEC earlier this month.
Cointelegraph contacted Intuit for comment on its decision to opt out of the initiative but did not receive an immediate response. Spokespeople for Wells Fargo and Arm Holdings declined to comment.
