Odaily reports that a notice updated by OKXICE TSV on October 23 listed 6 newly objecting companies, including Wells Fargo, Cisco Systems, Marvell Technology, Arm Holdings, Moderna, and Intuit. The total number of companies that have raised objections has increased to 22, up from 16 on October 19 and 9 on October 15. The notice did not state the reasons why the companies objected, nor did it explain the impact of the objections on whether the stocks can be traded on the platform.
OKXICE TSV is a joint venture owned 50-50 by Intercontinental Exchange and OKX's U.S. holding company, and plans to allow approved users to trade tokenized U.S. stocks around the clock. Trading will be conducted through Uniswap v4 liquidity pools on OKX's XLayer blockchain and settled using stablecoins such as USDC.
The notice disclosed that the platform suspends trading only when the underlying stocks are halted, has not set up other circuit breaker mechanisms, and has not established policies for handling issues related to blockchain transaction ordering. Smart contracts can be upgraded without prior notice to users, and the contract controlling trading eligibility has only undergone an internal audit. (Decrypt)
