Public companies object to OKX-ICE’s tokenized stock plan

Nine public companies objected to having their shares offered in tokenized form by OKX and ICE, testing whether platforms can create blockchain-based markets without issuer consent.

Nine listed companies have formally objected to having their shares offered in tokenized form on the proposed tokenized stock platform backed by OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE).

The companies included Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon Communications, Applied Optoelectronics, Broadcom and UnitedHealth Group, according to a Thursday notice by OKX and ICE.

The notice did not disclose the reason behind the objection. Under the Securities and Exchange Commission’s Sept. 17 innovation exemption announcement, tokenized venues must give issuers written notice and an opportunity to object before listing third-party tokenized stocks.

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