Seven more issuers object to OKXICE trading tokenized versions of their stock, the venue’s public notice dated 27 Oct shows: JPMorgan Chase, AMD, Applied Materials, Coca-Cola, Adobe, Dell Technologies and Sandisk. That takes the list to 33. OKXICE, which CryptoWatchDesk last covered on 24 Oct when 22 issuers had objected, had added IBM, IonQ, Oracle and Intel in a 26 Oct notice.
The objections are to a venue, not to tokenization as such. JPMorgan is one of 20 firms that signed up to the tokenization service DTCC launched on Wednesday, DTCC’s release shows. “We’ve decided not to participate in this venue at this stage but will continue to evaluate opportunities as the market develops,” a JPMorgan spokesperson told CoinDesk.
The roster is thinning. All seven new objectors were among the 62 companies first proposed for trading, and 30 of those 62, about 48%, have now opted out, according to CoinDesk’s tally. Some objectors, among them Wells Fargo and Arm, were not on that original list, CoinDesk said.
| Notice date | Issuers objecting |
|---|---|
| 4 Oct | 1 |
| 8 Oct | 4 |
| 15 Oct | 9 |
| 19 Oct | 16 |
| 23 Oct | 22 |
| 26 Oct | 26 |
| 27 Oct | 33 |
Source: OKXICE public notices.
The venue, owned equally by Intercontinental Exchange and OKX-affiliated OKC USA, plans to trade tokenized stocks against stablecoins in Uniswap v4 pools on OKX’s XLayer blockchain, under the SEC exemption it relies on. The 27 Oct notice still names USDC and USDG as example pairing stablecoins.
The notice gives no reasons for the objections and no launch date. Issuers have 30 days after notification to object, CoinDesk reported. For the other route into tokenized shares, see how DTCC’s tokenization service went live.
This article is for information only and is not investment advice.