Nvidia, Nike Join Opposition to OKX, ICE Stock Tokenization Plan, Bringing Objecting Firms to 50
The number of companies opposing a stock-tokenization initiative by global cryptocurrency 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 tokenized securities trading platform backed by OKX and ICE.Nvidia, Nike, Costco, Micron and Reddit were among the latest additions to the list. Those companies 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 conventional equities through blockchain-based digital tokens. Depending on how the tokens are structured, however, they may or may not grant actual share ownership or shareholder rights.The latest wave of opposition could make corporate consent and rights issues key points of contention as OKX and ICE move forward with the project. The specific reasons behind the objections, and how the two companies plan to respond, have not yet been confirmed.