Intel, Oracle, IBM join growing list of firms objecting to OKX-ICE tokenized stock plans

Key Points:

• IBM, Oracle, Intel, and IonQ have joined 22 other companies in objecting to plans by crypto exchange OKX and ICE to offer blockchain-based trading of their shares, bringing total issuer objections to 26.
• OKXICE’s joint venture intends to use Uniswap v4 liquidity pools on OKX’s XLayer blockchain for tokenized stock trading, with transactions settled in stablecoins via automated market makers rather than traditional order books.
• The SEC’s five-year “Innovation Exemption” allows venues to test 24/7 blockchain-based stock trading but gives public companies the option to block tokenized trading of their shares, leading many issuers to opt out as a precaution.
• About 37% of the original 62 companies proposed for tokenized trading have formally objected, reflecting issuer caution due to legal uncertainties, investor-relations concerns, and unclear financial benefits.
• Industry experts note that while tokenization could attract new investors, especially internationally, issuers remain wary of thin liquidity and unfamiliar trading structures outside traditional markets.