Firms object to shares being part of OKX-ICE tokenised stock trading venture
A host of companies, including JPMorgan Chase, Goldman Sachs and Microsoft, have registered their objection to their shares trading on a planned tokenised platform developed by Nyse parent Intercontinental Exchange and crypto exchange OKX.
THE OKXICE joint venture offering blockchain-based stock trading initially listed 62 companies on its proposed roster. However, in a public notice first reported by Coinbase, 33 of the firms have now objected.
OKXICE is being planned under the SEC’s new framework for blockchain-based trading, which gives qualified providers a five-year “innovation exemption” to test the technology. Under the framework, public companies can block their shares from being offered.
Nearly half of the companies initially listed have now opted out while some firms – including Wells Fargo – have also registered their objection despite not being on the initial list proposed by the venture.
OKXICE is part of a wider collaboration that saw Nyse’s parent invest in the crypto exchange earlier this year.
