Companies Reject Tokenized Stock Listings on OKX and ICE

Nine public companies have formally opposed the offering of their shares in tokenized format. The move directly impacts the platform planned by OKX in partnership with the Intercontinental Exchange. Among the companies that rejected the initiative are Broadcom, Verizon, and UnitedHealth Group.

The list of objections also includes Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, and Applied Optoelectronics. The companies communicated their decision through a notice issued by OKX and ICE last Thursday. The document did not detail the specific reasons that led to the refusal by the companies.

The standoff puts the rules established by the U.S. Securities and Exchange Commission on September 17 to the test. The regulation requires tokenized asset platforms to notify issuers before listing third-party securities. Companies have the right to veto the inclusion of their assets in the digital environment.

Experts point out that the resistance is not against blockchain technology itself. The concern lies in the lack of transparency regarding price formation and order execution outside of traditional markets. Nasdaq also reported that it will choose not to participate in the proposed model under the current regulator guidelines.

Regulatory uncertainty regarding the tokenization of real-world assets may raise the risk premium in decentralized finance projects. This scenario tends to increase the volatility of digital assets that seek to integrate into the traditional financial market.