22 issuers now blocking OKXICE tokenised stock venue as Wells Fargo and Cisco opt out
Key points
- Six companies, Cisco, Wells Fargo, Arm Holdings, Moderna, Intuit, and Marvell Technology, filed opt-outs on 24 October 2026, raising the total number of issuer objections to OKXICE to 22.
- OKXICE is a joint venture between OKX and Intercontinental Exchange and filed its initial public notice on 4 October 2026, covering a proposed roster of 62 companies for tokenised trading.
- The SEC's Innovation Exemption grants issuers a 30-day window to object before a TSV may offer tokenised versions of their shares, and an objection applies only to the notifying venue.
- OKXICE co-chairman Andrew Cuomo said on a Monday press call that the opt-outs were expected, describing the current framework as a sandbox given limits on companies and volumes.
- Wells Fargo and Arm Holdings were not among the original 62 proposed companies, meaning the 22 objections include firms that sought to proactively block even being added to the venue.
Six additional companies have formally objected to having tokenised versions of their shares traded on OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), parent of the New York Stock Exchange. Cisco, Wells Fargo, Arm Holdings, Moderna, Intuit, and Marvell Technology filed their opt-outs in a public notice published Friday, bringing the cumulative total of issuer objections to 22. They join an earlier cohort that included Microsoft, Alphabet, Goldman Sachs, and McDonald’s.
OKXICE’s framework operates under the SEC‘s five-year Innovation Exemption, which permits qualifying tokenised securities venues (TSVs) to test around-the-clock stock trading via automated market makers. The venue’s initial public notice, filed on 4 October, outlined plans to use Uniswap liquidity pools on OKX’s XLayer blockchain with stablecoin settlement. Under SEC rules, issuers have 30 days from notification to block their shares from appearing on a TSV. The original proposed trading roster covered 62 companies, meaning some objectors, including Wells Fargo and Arm, were not even on that list to begin with.
Andrew Cuomo, OKXICE’s co-chairman, characterised the wave of refusals as anticipated rather than alarming. Speaking on a Monday press call, he described the framework as a sandbox and a model demonstration given its limits on participating companies and trading volumes, and said many issuers were expected to prefer observing early results before committing. An issuer objection blocks trading solely on the notifying venue and does not amount to a blanket rejection of stock tokenisation more broadly, a distinction that matters as the market structure evolves.