OKXICE Notice Adds Six Issuer Objections, Bringing Total to 22

OKXICE’s Oct. 23 notice lists 22 issuers that have objected to third-party tokens tied to their shares on its planned venue, adding six names since an Oct. 19 notice.

The new names are Arm Holdings, Wells Fargo, Moderna, Cisco Systems, Intuit and Marvell Technology. The Oct. 19 notice listed 16 objectors.

The six additions follow seven earlier objections to the venue, detailed in an earlier report on companies joining the list.

A Sept. 17 Securities and Exchange Commission order requires a tokenized securities venue to give an issuer written notice before offering an unaffiliated third party’s tokenized stock. The venue must wait 30 calendar days from the issuer’s receipt of notice before trading may start. A written objection by the 30th day prevents that venue from offering the token.

“Issuers must have the opportunity to object and prevent their security from trading on a TSV,” SEC Chair Paul Atkins said in a Sept. 17 statement.

The objection applies to the specific venue and third-party token covered by the notice. It does not give an issuer a blanket veto over tokenized versions of its shares on other venues. The SEC order also requires tokens traded under the exemption to give holders the same rights and privileges as equivalent traditional shares, including dividend and voting rights.

OKXICE plans permissioned Uniswap v4 liquidity pools on XLayer, pairing stock tokens with USDC, USDG or USDT. The SEC’s temporary, conditional relief allows qualifying venues to use permissioned automated market makers to trade certain tokenized National Market System stocks, subject to limits on eligible symbols and trading volume. The relief expires five years after publication of the order.

The notices do not identify why each issuer objected or when it submitted its objection. Because the 30-day period begins when an issuer receives notice, the public notice dates alone do not establish individual objection deadlines.