IBM, Oracle and Intel join 26 companies objecting to OKX-ICE tokenized stock platform
IBM, Oracle, Intel and IonQ have formally objected to the tokenization of their shares on OKXICE, bringing the total number of opting-out corporate issuers to 26.
A growing cohort of major U.S. corporations is pushing back against plans to trade tokenized versions of their shares onchain. IBM, Oracle, Intel and IonQ have submitted objections to prevent their stocks from being listed on OKXICE under an SEC innovation exemption, according to reporting by Eleanor Terrett and an updated venue notice, pushing the total count of objecting companies to 26.[1][2][3][4][5]
OKXICE is a Texas-based entity owned equally by Intercontinental Exchange and OKX affiliate OKC USA Holding. The venture notified the SEC on Oct. 4 of its plan to facilitate tokenized stock trading via permissioned Uniswap v4 pools on X Layer. Under a Sept. 17 SEC order running through 2031, third-party tokenization venues must provide issuers at least 30 calendar days' notice, and any written objection submitted within that window prevents the token from trading.[4][5]
In a revised public notice dated Oct. 26, OKXICE confirmed 26 issuers had opted out, up from 22 several days earlier. The objecting firms represent roughly $13.9 trillion in combined market value, according to Coin Bureau, and feature tech and financial heavyweights including Alphabet, Microsoft, Broadcom, Cisco, Goldman Sachs and Wells Fargo. The notice provided no specific reasons for the objections nor an official platform launch date.[1][4]
The venue disclosed several structural risks in its regulatory filings. OKXICE stated it is not registered with the SEC for these activities and operates outside Regulation NMS. Access relies on soulbound tokens that have been audited only internally, administrator keys are held by OKX Technology Inc. without upgrade timelocks, and the notice cautions that self-custodied tokens may not receive SIPC protection.[4]
Key facts
- IBM, Oracle, Intel and IonQ filed objections against having their shares tokenized on the OKXICE trading venue.
- A revised notice dated Oct. 26 brought the total number of objecting issuers on OKXICE to 26, up from 22 on Oct. 23.
- The 26 opposing companies, including Alphabet, Microsoft, Broadcom and Cisco, hold a combined market valuation of approximately $13.9 trillion.
- OKXICE LLC is a Texas-registered joint venture owned 50% by Intercontinental Exchange and 50% by OKC USA Holding.
- Under an SEC order effective through Sept. 17, 2031, issuers have a 30-calendar-day window to submit written objections blocking third-party stock tokenization.
- OKXICE plans to route trades through Uniswap v4 pools on X Layer using soulbound tokens, but disclosed it is not registered with the SEC and that SIPC coverage for self-custodied tokens is uncertain.
Sources · 5 sources
- CB
Coin Bureau@coinbureauPost on X ·
Wall Street is saying “NO” to MASS TOKENIZATION 26 companies worth ~$13.9 TRILLION have objected to tokenized versions of their shares trading on OKXICE. The full list: 1. Alphabet $GOOGL: $4.13T 2. Microsoft $MSFT: $3.84T 3. Broadcom $AVGO: $1.6T 4. Intel $INTC: $540B 5. Cisco $CSCO: $433B 6. Oracle $ORCL: $405B 7. UnitedHealth $UNH: $339B 8. Caterpillar $CAT: $324B 9. Arm Holdings $ARM: $268B 10. Goldman Sachs $GS: $260B 11. Wells Fargo $WFC: $253B 12. IBM $IBM: $214B 13. Marvell $MRVL: $203B 14. Verizon $VZ: $188B 15. Qualcomm $QCOM: $175B 16. McDonald's $MCD: $172B 17. Western Digital $WDC: $140B 18. AppLovin $APP: $95B 19. Intuit $INTU: $81B 20. Moderna $MRNA: $57B 21. Rocket Lab $RKLB: $44B 22. CoreWeave $CRWV: $38B 23. Cerebras $CBRS: $34B 24. IonQ $IONQ: $15B 25. Applied Optoelectronics $AAOI: $10B 26. Applied Digital $APLD: $6B The count has nearly TRIPLED from 9 objectors just 10 days ago. If TOKENIZATION is such a win, why the pushback?
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🇺🇸 LATEST: IBM, Oracle, Intel, and IonQ have objected to OKX/ICE tokenizing their shares under the SEC’s innovation exemption, bringing the total to 26 issuers, per Eleanor Terrett. https://t.co/2S9W7adddD
Open source - CO
CoinGape@CoinGapeMediaPost on X ·
🚨 LATEST: IBM, @Oracle , Intel, and IonQ have opposed OKX/ICE’s plan to tokenize their shares under the SEC’s innovation exemption, bringing the total number of objecting issuers to 26, according to Eleanor Terrett. https://t.co/K839kw8b4C
Open source - UN
UnchainedArticle ·
Oracle, IBM and Intel Have Opted Out of OKX-ICE Stock Tokens, Venue’s Own Notice Shows The tokenized stock venue run by Intercontinental Exchange and OKX now counts 26 companies that have objected to tokenized versions of their shares trading on it, according to a revised public notice the venue published dated Oct. 26 . That is four more than the 22 objectors Unchained reported on Oct. 23 . The last four names on the notice’s list are IBM, IonQ, Oracle and Intel . Moderna, Cisco and Marvell Technology also appear. None of those seven were named in Unchained’s earlier coverage. The full list also includes Microsoft, Alphabet, Goldman Sachs, Broadcom, Verizon, Wells Fargo, Arm Holdings and Intuit. The notice gives no reason for any objection and no launch date. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . How an Objection Works The SEC’s tokenized securities venue exemption , an order dated Sept. 17 that is set to expire Sept. 17, 2031, lets an issuer keep its stock off such a venue. When a third party unaffiliated with the company makes the token, the venue must notify the issuer and wait at least 30 calendar days before trading starts. If an issuer objects in writing during that window, the token can’t trade. The venue gets five business days after that to list the objection in an updated notice. The venue is operated by OKXICE LLC , a Texas company owned 50% by ICE and 50% by OKC USA Holding, the joint venture the two firms formed. Trading will run through permissioned Uniswap v4 pools on XLayer, which will be open only to wallets holding a soulbound token (SBT) that OKXICE issues. The notice states the venue is not registered with the SEC for these activities and “is not subject to Regulation NMS.” Risks the Venue Discloses The notice repeats risk warnings that have appeared in earlier versions. Decrypt reported on Oct. 25 , citing the Oct. 23 notice, that administrators could change the venue’s contracts with no warning to users and that the contract controlling trading access had been reviewed only in-house. “The SBT smart contract has been audited internally, but not by external auditors,” the notice says in its risk section. A second contract, the hook that checks those tokens on every trade, is to be audited internally and by Certified Kernel Tech LLC before it goes live. Administrator keys for the contracts are managed by OKX Technology Inc. , and contract changes “take effect without a timelock, so TSV Participants may receive no advance notice of an upgrade,” according to the notice. On investor protection, the venue writes that whether tokens “held in a self-custodied wallet would be treated as customer property or protected by the Securities Investor Protection Corporation is uncertain, and any recovery could be delayed or incomplete.” The notice also says that how broker-dealer duties such as FINRA trade reporting and best execution apply to trading on the venue is not settled, which it says could lead broker-dealers to limit or skip trading there. The venue’s first notice, dated Oct. 4, listed 63 tickers from 62 companies for tokenized trading. Related Listen: Robinhood’s Tokenized AMC Shares Spark a Fight Over What Stock Tokens Really Are The post Oracle, IBM and Intel Have Opted Out of OKX-ICE Stock Tokens, Venue’s Own Notice Shows appeared first on Unchained .
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Four new companies — IBM, Oracle, Intel, and IonQ — have objected to OKXICE tokenizing their stocks under the SEC's innovation exemption. The number of opposing issuers has now reached 26. $IBM $INTC $ORCL OKXICE, the joint venture between OKX and NYSE parent Intercontinental Exchange, notified the SEC on Oct. 4 that it intends to offer onchain trading of US tokenized stocks on X Layer, and that issuers had 30 days to opt out.
Open source