Wells Fargo, Cisco, Marvell among latest firms objecting to OKXICE’s tokenized stock plan
Six more companies have objected to listing tokenized versions of their stock on the venue, Reuters reported, bringing the total to 22.
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Summary
- Cisco, Wells Fargo, Marvell, Arm, Intuit and Moderna opted out of OKXICE’s plans to offer blockchain-based trading of their tokenized shares, bringing the total number of objections to 22.
- The growing list highlights a hurdle for the joint venture of the crypto exchange and NYSE parent under the SEC’s new framework, which gives issuers 30 days to block their shares from trading on a tokenized securities venue.
- OKXICE co-chairman Andrew Cuomo said objections were expected, with many companies preferring to wait and see how the new market works before participating.
