Wells Fargo among six new firms objecting to OKX ICE tokenization plan

Six more companies have filed formal objections to having their shares listed in tokenized form on a proposed trading platform developed by cryptocurrency exchange OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange. Cointelegraph and Yahoo Finance reported that the new objectors include Wells Fargo, Arm Holdings, and Intuit. According to a Reuters report, a total of 22 companies had submitted objections as of Friday. [1][2][4][5][6]

The joint venture, known as OKXICE, aims to launch a tokenized equity trading platform under the innovation exemption of the United States Securities and Exchange Commission, Cointelegraph reported. The platform would create digital token representations of United States stock listings. However, corporate opposition has grown as companies seek to prevent their shares from being traded on the venue without approval. [1]

Wells Fargo is an American multinational financial services company classified as a systemically important financial institution, with approximately 2.0 trillion dollars in assets as of mid 2025. As FTMQ Crypto reported earlier, the bank previously held discussions with Kraken parent company Payward to serve as a liquidity provider for cryptocurrency trading. OKX is a cryptocurrency exchange based in San Jose, California. [7][8][9][10]

The increasing resistance from prominent public companies highlights institutional caution surrounding unauthorized equity tokenization. Regulators and market operators continue to review filings related to the proposed OKXICE platform under the innovation exemption process. [1][4]