Microsoft, Alphabet, Goldman Sachs Among Growing List of Firms Objecting to OKX-ICE Tokenized Stock Plan
Microsoft, Alphabet and Goldman Sachs have added their names to a list of companies objecting to a proposed tokenized stock trading platform backed by OKX and ICE, according to Cointelegraph. The outlet reports that about About 25% of the US-listed companies in OKXICE’s initial tokenized stock platform proposal are asking to opt-out of the venture.
of the US-listed companies included in the platform’s initial proposal are now asking to opt out of the venture.
The objection list has grown quickly. According to Decrypt, sixteen companies have now objected to having their shares traded on the planned venue, up from nine just four days earlier, citing an updated public notice.
OKX-ICE’s Andrew Cuomo responded to the pushback by calling the issuer objections a “natural response” to tokenized stock plans, according to CoinDesk.
The domestic resistance comes as tokenized stock trading gains traction abroad. CNBC reports that tokenized stocks are picking up momentum in international markets even as major US companies push back against introducing them at home.
The episode highlights a split between companies' reluctance to have their equity tokenized without consent in the US and growing adoption of the model overseas.
Sources: Cointelegraph, CoinDesk, Decrypt, CNBC
This article is for information only and is not financial advice.
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