Intel, Oracle, IBM Join Objections to OKX-ICE Tokenized Stock Venue, Bringing Total to 26

In brief

• Intel, Oracle, IBM and IonQ joined the list of companies objecting to trading of their shares on OKXICE TSV, according to its Oct. 26 notice.
• The total has climbed from nine on Oct. 15 to 26, though the notices don’t explain the objections or their effect.
• The notice says it’s uncertain whether tokenized shares in self-custodied wallets would be protected by SIPC if the tokenizer’s broker-dealer failed.

The tech sector’s resistance to tokenized stocks keeps building.

Intel, Oracle, IBM, and quantum computing firm IonQ are the latest companies to object to having their shares traded on OKXICE TSV, according to an updated public notice from the venue dated Monday.

The planned platform, a 50-50 joint venture between NYSE owner Intercontinental Exchange and OKX’s U.S. holding company, now lists 26 objecting issuers.

That’s up from 22 in its Oct. 23 notice, which added Wells Fargo, Cisco, and Marvell. The tally stood at 16 on Oct. 19 and nine on Oct. 15, when the first batch included Verizon, Broadcom and UnitedHealth Group. In less than two weeks, the list has nearly tripled.

Technology companies dominate the roster. Microsoft, Alphabet, Broadcom, Qualcomm, Arm, Cisco, and now Intel and Oracle have all objected, along with banks Goldman Sachs and Wells Fargo.