Summary
- The number of companies opposing the stock tokenization project by OKX and ICE has risen to 50.
- Nvidia, Nike, Costco, Micron and Reddit have objected to the tokenization of their shares.
- About 81% of the 62 targeted companies are opposed, and corporate consent and rights relationships could emerge as key issues.
Forecast Trend Report by Period
The number of companies opposing a stock tokenization project pursued by global crypto exchange OKX and Intercontinental Exchange has risen to 50.
Eleanor Terrett, host of CryptoAmerica, reported on Nov. 1 that 50 companies have now objected to having their shares tokenized on the Tokenized Securities Venue, or TSV, a trading platform proposed by OKX and ICE.
Nvidia, Nike, Costco, Micron and Reddit were recently added to the list of opposing companies. They are reported to have objected to the tokenization of their shares.
OKX and ICE had previously proposed tokenizing the shares of 62 companies. The 50 companies that have objected account for about 81% of the total.
Stock tokenization refers to representing the value or rights of traditional equities as blockchain-based digital tokens. Depending on how the tokens are structured, however, they may or may not confer actual share ownership or shareholder rights.
The latest opposition could make corporate consent and rights issues key points of contention as OKX and ICE push ahead with the project. The specific reasons for the objections, and how the two companies plan to respond, have not yet been confirmed.
