Intel, Oracle, IBM and IonQ Join Growing Opposition to OKXICE Tokenized Stock Plan

Intel, Oracle, IBM, and IonQ have formally objected to the tokenization of their shares on the OKXICE platform, bringing the total number of corporate holdouts to 26. OKXICE, a joint venture between OKX and Intercontinental Exchange, aims to offer 24/7 trading of tokenized equities backed one-for-one by underlying shares. The platform utilizes a temporary SEC exemption that allows third-party venues to tokenize securities unless the issuing company explicitly opts out. This growing resistance highlights significant corporate apprehension regarding the representation and trading of their equity on third-party blockchain venues without direct participation. While OKXICE board member Andrew Cuomo frames the SEC framework as an experimental step toward modernizing market hours, major firms remain cautious. The opposition includes a mix of companies listed on both the NYSE and Nasdaq, signaling a broader trend of issuers asserting control over their digital presence. This development creates a substantial hurdle for OKXICE as it attempts to establish a permissioned liquidity model on the X Layer blockchain.