22 companies oppose listing their shares on the OKXICE tokenized platform

Article

【22 companies oppose OKX listing on the tokenized stock platform of the joint venture with Intercontinental Exchange】

As of Friday, 22 companies had filed objections to listing their U.S. stocks in tokenized form on OKX the tokenized stock platform launched through a joint venture with Intercontinental Exchange, the parent company of the NYSE,OKXICE. The latest companies to object include Wells Fargo, Arm Holdings and Intuit. Previously, 1 Microsoft and Google parent Alphabet joined the opposition. Of the above 22 companies, 16 have shares listed on Nasdaq, while only 6 have shares listed on the NYSE. Nasdaq previously issued guidance in September on the U.S. Securities and Exchange Commission's innovation exemption mechanism, warning issuers that they “must exercise caution regarding their own participation,” and stating that the consequences for liquidity, price discovery and long-term shareholder value may not become apparent until the experiment has progressed for a considerable period.OKXICE co-chair and former New York Governor Andrew Cuomo said the joint-venture platform is expected to face more objections because companies want to avoid being among the first to test this stock model. When the joint-venture platform filed documents with the U.S. Securities and Exchange Commission earlier this month, it planned to provide tokenized stock listings for 62 companies. Cointelegraph sought comment from Intuit on its decision to withdraw from the plan but did not receive an immediate response; spokespersons for Wells Fargo and Arm Holdings both declined to comment.