The list of public companies opposing tokenized stock plans on the OKXICE platform has risen to 22 issuers. Six new companies have formally filed objections, following moves by Alphabet and Microsoft, which rejected the listings the previous week. Key names in the latest wave of opposition include banking giant Wells Fargo, chip designer Arm Holdings, and software firm Intuit.
A proposal originally designed to bring dozens of US publicly traded stocks onto the blockchain now faces direct pushback from the issuing companies themselves.
Nasdaq’s Concerns Over Liquidity and Price Discovery
Of the 22 issuers filing formal objections, the largest group is listed on Nasdaq. A total of 16 companies hail from the tech-heavy bourse, while six other issuers are listed on the New York Stock Exchange (NYSE). This wave of pushback aligns with guidance issued by Nasdaq operators a month earlier.
In September 2026, Nasdaq published guidance cautioning issuers against tokenized equity schemes. The guidance highlighted three direct consequences for public companies: potential disruptions to market liquidity, impediments to price discovery, and threats to long-term shareholder value. Nasdaq’s warning served as a reference before issuers submitted their formal objections.
Targeting 62 Stocks and Andrew Cuomo’s Defense
The pushback from issuers comes amid ambitious plans for the OKXICE platform. The entity is a joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), the parent company of the NYSE. In its operations, the venture relies on an innovation exemption granted by the US Securities and Exchange Commission (SEC).
Initial filings submitted to the SEC in early October 2026 outlined plans to tokenize shares of 62 US public companies. With objection letters submitted by 22 issuers, more than a third of OKXICE’s target stocks now refuse to be traded in digital token form.
Despite growing resistance, organizers stated they were not caught off guard. OKXICE co-chair and former New York Governor Andrew Cuomo noted that the team had anticipated pushback from the beginning. According to Cuomo, many issuers are reluctant to be the first to test a tokenized equity model in public markets.
For crypto industry participants anticipating the integration of traditional equities, the pushback from 22 issuers sets a clear boundary: the adoption of blockchain-based stocks on Wall Street is not solely determined by technological readiness, but by direct consent from the companies whose shares are being traded.
Source: Cointelegraph.
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Previously: Planned for 62 Companies, OKXICE Tokenized Stocks Rejected by 16 Issuers Including Microsoft
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
