Nearly Half of OKXICE’s Planned Stock Lineup Has Now Opted Out of Tokenized Trading

A fresh public notice dated October 27 shows more big names stepping away from the OKX and Intercontinental Exchange joint venture. JPMorgan Chase, Coca-Cola, Dell Technologies, Applied Materials, Adobe and Sandisk are among seven new objectors, which lifts the disclosed total to 33 from 26 a day earlier. All seven were on the original list of 62 proposed companies, so 30 of them, about 48%, have now declined. Wells Fargo, Arm and Cerebras also objected even though they were not on that first list.

How the OKXICE Venue Is Meant to Work

The venture published its first notice on October 4. Its plan is round the clock trading of tokenized shares through Uniswap v4 liquidity pools on OKX’s XLayer network, with settlement in stablecoins. It would operate under the SEC’s five year Innovation Exemption, which lets qualifying platforms trade tokenized stocks through automated market makers. Companies get 30 days after being notified to object to inclusion.

Why Companies Are Staying Cautious

Issuers are still working out how these markets would function and what they stand to gain under the new structure. Co chairman Andrew Cuomo said earlier that many firms would likely wait and see before taking part, describing the SEC’s limited program as a sandbox and a model demonstration.