Seven more major companies are blocking tokenized versions of their shares from a planned 24/7 crypto trading venue, bringing the total number of objectors to 33.
JPMorgan Chase, Advanced Micro Devices (AMD), Coca-Cola, Applied Materials, Adobe, Dell Technologies and Sandisk now appear on a revised public notice dated October 27th from OKXICE, the joint venture between crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange (ICE), according to a filing.
The objection list stood at 26 companies in the version dated one day earlier.
The earlier objectors include Microsoft, Alphabet, Goldman Sachs, Oracle, IBM and Intel.
JPMorgan is now the third bank on the list, joining Goldman Sachs and Wells Fargo.
All seven new objectors were among the 63 tickers OKXICE listed for tokenized trading in its first notice, dated October 4th.
The new notice does not give a reason for any of the objections, and it still does not give a launch date for the venue.
Under the SEC’s exemption for tokenized stock venues, a venue must notify a company before trading a token of its stock that was created by an unaffiliated third party.
A written objection from the company within 30 calendar days keeps the token off the venue.
The count has climbed with each new notice, from nine on October 15th to 16 on October 19th and 22 on October 23rd.
The notice also keeps its earlier risk warnings, including one about upgrades to the venue’s smart contracts.
Says the notice,
“[Changes] take effect without a timelock, so TSV Participants may receive no advance notice of an upgrade.”
As ICD previously reported, OKXICE first notified the SEC earlier this month of its plans to offer round-the-clock trading of tokenized versions of more than 60 major US stocks.
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This post JPMorgan Chase, Wells Fargo and Goldman Sachs Among 33 Listed Companies Blocking Tokenized Versions of Their Stock on a Crypto Exchange-Fronted Joint Venture may be modified as updates unfold.
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