Intel, IBM, Oracle and IonQ Latest to Object to OKX-ICE Tokenized Stock Listings
More than 40% of companies initially proposed for tokenized stock trading have now asked to opt out of the OKX-ICE venture, signaling growing corporate resistance to the emerging asset class.
Four major technology companies — Intel, IBM, Oracle, and IonQ — have formally objected to having their shares listed in tokenized form on the exchange being built by OKX and Intercontinental Exchange, pushing the total number of corporate opt-outs past 40% of the originally proposed lineup.
The joint venture pairs OKX, one of the world's largest cryptocurrency exchanges, with Intercontinental Exchange, the parent company of the New York Stock Exchange. The platform received a temporary innovation exemption from the U.S. Securities and Exchange Commission, permitting the tokenized trading of a defined set of National Market System stocks on a limited basis.
Of the 62 companies originally proposed for inclusion, 26 have now filed objections asking to be excluded. The latest wave of dissent from Intel, IBM, Oracle, and quantum computing firm IonQ follows earlier opt-outs from Alphabet, Goldman Sachs, and Wells Fargo — a roster that spans technology, banking, and financial services.
The reasons cited by objecting companies have not all been made public, but the trend reflects a broader wariness among established corporations about having their equity securities traded through blockchain-based infrastructure without their explicit endorsement or operational input.
Nasdaq has publicly advised companies to exercise caution before participating in tokenized stock initiatives, a signal that the traditional exchange ecosystem views these new venues with competitive concern. Nasdaq's guidance appears to carry weight particularly among companies whose primary listings sit on its own platform.
Andrew Cuomo, co-chair of the OKX-ICE tokenization venture, acknowledged the wave of objections but described corporate reticence as a predictable early-stage reaction. He characterized the pushback as a "very natural response" to a novel and still-evolving market structure, suggesting the venture expects the list of participating companies to stabilize or expand over time.
The SEC's temporary exemption framework for Tokenized Securities Venues allows qualifying platforms to offer trading in tokenized versions of exchange-listed stocks, effectively creating parallel on-chain markets for assets that already trade on conventional exchanges. Proponents argue this expands access and settlement efficiency; critics raise concerns about fragmentation, oversight, and investor protection.
The pace of corporate opt-outs raises practical questions about the breadth and liquidity of the OKX-ICE venue at launch. A smaller universe of available tokenized stocks could limit the platform's appeal to institutional and retail participants who seek a wide array of tradeable assets.
The development comes as the broader tokenized-asset market accelerates. Nasdaq separately disclosed a $100 million investment in Payward, the parent company of crypto exchange Kraken, in September — a move that underscores how traditional market infrastructure firms are placing multiple bets on blockchain-adjacent businesses even as they urge caution on specific tokenization ventures.
The OKX-ICE project now faces the challenge of assembling a compelling initial product with the companies willing to remain on its roster, while navigating a regulatory framework that is still being defined. How regulators respond to mounting corporate objections — and whether the SEC revises the scope of its exemption — is expected to shape the trajectory of tokenized equity trading in the United States.
Primary source: CoinTelegraph. Newzly rewrites and structures source reporting for clarity; verify critical details at the original.