38 companies oppose OKXICE's tokenized stock plan, accounting for about 60% of target companies

Odaily reports: An announcement updated by OKXICE on October 28 shows that Walmart, Eli Lilly, Cigna, Carnival Corporation, and Arcos Dorados oppose its stock tokenization plan. With the addition of five companies, 38 of the 63 target companies have now formally objected, accounting for about 60%; the combined market capitalization of these companies exceeds $19.4 billion.

OKXICE is a joint venture established by crypto exchange OKX and Intercontinental Exchange (ICE), planning to allow eligible investors to trade blockchain-mapped tokens of U.S. stocks around the clock using stablecoins. The tokens will be backed by real shares held by a registered broker-dealer, and trading is intended to be conducted through permissioned Uniswap v4 liquidity pools on the OKX X Layer network.

The temporary regulatory exemption established by the U.S. Securities and Exchange Commission (SEC) in September allows eligible platforms to conduct tokenized stock trading without complying with some traditional exchange requirements, and allows listed companies to object to third-party tokenization of their shares. The announcement listed the companies that raised objections but did not explain their specific reasons. (Bitcoin.com News)