Intuit, Wells Fargo, and Arm Holdings formally objected to their shares becoming "tokenized" digital assets. These assets would trade on a new platform.
A regulatory document revealed this objection. The document relates to OKXICE. OKXICE is a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange. Intercontinental Exchange is the parent company of the New York Stock Exchange.
This action brings the total number of companies opposing tokenization on the platform to 22. These companies oppose a plan to list digital tokens. The tokens would track their real shares. They would trade on a blockchain.
Proponents argue tokenization allows for 24/7 trading and faster settlement. Critics raise concerns about ownership rights. Token holders would not receive the same voting rights as traditional shareholders.