Wells Fargo, Cisco, Intuit Among 22 Firms Objecting to OKX-ICE Tokenized Stock Venue

Wells Fargo, Cisco Systems, Intuit, Arm Holdings, Moderna and Marvell Technology are the latest issuers to object to their shares trading on OKXICE TSV, the tokenized stock venue planned by Intercontinental Exchange and OKX, according to an updated notice dated Friday. The additions bring the total to 22 objecting companies, up from 16 on Oct. 19 and nine on Oct. 15. Earlier objectors include Microsoft, Alphabet, Goldman Sachs, Verizon, Broadcom and UnitedHealth Group. Wells Fargo is the second major U.S. bank on the list after Goldman Sachs. None of the notices explain the companies' reasons or what effect an objection has on listing eligibility. The 50-50 joint venture plans to let approved users trade tokenized U.S. stocks 24/7 through Uniswap v4 liquidity pools on OKX's XLayer blockchain, paired with stablecoins such as USDC, under the SEC's innovation exemption. The notice details risks including no circuit breakers, no maximal extractable value policy, smart contracts upgradable without advance notice, and unsettled broker-dealer trade reporting and best-execution questions that could thin liquidity.