Broadcom, Verizon Join Pushback Against OKX-ICE Tokenized Stock Venue
Eight more companies objected to trading on the planned OKX-ICE venue, while Nasdaq said it would opt out under the SEC’s tokenized-stock framework.
Broadcom and Verizon are among the companies objecting to plans to trade tokenized versions of their shares on a venue planned by OKX and ICE, according to CoinDesk. Eight additional companies have also raised objections to trading on the planned OKX-ICE platform.
Separately, Nasdaq has said it would opt out under the SEC’s framework for tokenized stocks. The objections add to the scrutiny facing efforts to bring tokenized equity trading into regulated market structures.
Issuer concerns meet market innovation
The pushback highlights friction between issuers and trading venues over how tokenized versions of public company shares should be listed and traded. The SEC framework is being tested by market participants as venues seek to offer blockchain-based exposure to equities.
The objections from Broadcom, Verizon and other companies, along with Nasdaq’s planned opt-out, indicate that tokenized stock trading still faces questions over issuer consent and market structure as the SEC framework develops.