Wells Fargo, Intuit and others object to their shares being tokenized
WFC•Six more companies, including Wells Fargo, Arm Holdings and Intuit, objected to having their shares tokenized on a trading platform backed by OKX and Intercontinental Exchange. The total number of companies that have objected is now 22.
1. More issuer objections
Six more companies, including Wells Fargo, Arm Holdings and Intuit, will not allow their shares to be tokenized on the joint OKX and Intercontinental Exchange platform, according to a regulatory document. The venture had planned to tokenize 63 stocks.
2. Rules and filings
OKX and Intercontinental Exchange filed earlier this month with the U.S. Securities and Exchange Commission to launch tokenized stocks under an innovation exemption. Platforms must notify companies before listing tokenized versions of their shares and cannot proceed if an issuer objects. The document says 22 companies have objected.
