IBM, Oracle, Intel and IonQ opt out as OKXICE issuer objections reach 26

Four more companies have formally blocked their shares from OKXICE’s planned blockchain-based trading venue, bringing total issuer objections to 26. IBM, Oracle, Intel and IonQ were named in an updated public notice dated 26 October from OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), the parent of the New York Stock Exchange. They join earlier objectors including Microsoft, Alphabet, Goldman Sachs, Cisco and Wells Fargo.

OKXICE published its initial public notice on 4 October, setting out plans to operate on OKX’s XLayer blockchain using Uniswap v4 liquidity pools, with trades settled in stablecoins and executed through automated market makers rather than a conventional order book. The venue operates under the US Securities and Exchange Commission‘s five-year Innovation Exemption, which permits round-the-clock blockchain-based stock trading at qualifying venues. That same framework grants public companies a 30-day window to opt out before their shares can be offered.

Of the 62 companies on OKXICE’s original proposed roster, 23 have now objected, representing roughly 37% of that initial list. The overall tally of 26 also captures Cerebras Systems, Arm Holdings and Wells Fargo, which were not part of the original selection. Industry observers have noted that the asymmetry of the opt-out mechanism itself contributes to the numbers: objecting carries no cost, whereas silence allows trading to proceed without any later mechanism to withdraw consent, making caution the rational default for legal and investor-relations teams still assessing the arrangements.

OKXICE co-chairman Andrew Cuomo, the former New York governor, characterised the objections as anticipated during a press call last week, suggesting many firms prefer to observe outcomes before committing. Whether the accumulating opt-outs represent a structural problem for the venue or a temporary information gap is the central question to watch as the 30-day notice periods continue to run.