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Nvidia, Costco and 10 More Issuers Opt Out of ICE and OKX’s Tokenized Stock Venue
The venue's Oct. 30 notice lists 50 objecting companies, up from 38 two days earlier, and still gives no date for trading to start.
Dextape brief
Nvidia, Costco, Nike and nine other public companies have now registered objections against trading of their stock on a tokenized equities platform run by ICE and OKX, lifting the total of objecting issuers to 50. Twelve names were added in two days, per a revised notice dated October 30, including Micron, Reddit and Hewlett Packard Enterprise. Microsoft, Alphabet, JPMorgan Chase and Goldman Sachs had objected earlier, while Walmart, Eli Lilly and Cigna appeared on the October 28 list. The notice gives no reasons for the objections and no start date for trading. Under the SEC exemptive order, a timely objection from an issuer bars the venue from listing its stock tokenized by an unaffiliated party. Co-chair Andrew Cuomo expects more companies to wait and see.
Why it matters: It shows issuers can block tokenized versions of their stock on a venue not registered with the SEC, which bears on how tokenized equities trade.
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