Wells Fargo, Arm, and Intuit are among the latest companies objecting to tokenized trading through OKXICE, the joint venture between OKX and ICE. The number of objecting companies has climbed from 9 last week to 16 on Wednesday, and now 22, according to Reuters.
OKXICE had planned to tokenize 63 U.S. stocks, but under the applicable exemption, an issuer's objection prevents its shares from being listed on the platform—making corporate pushback a direct obstacle to the plan.
Analysts say the escalating resistance highlights a growing clash between traditional finance and crypto over who controls access to equity markets, as tokenization moves closer to the mainstream.