Wells Fargo, Intuit and Others Object to Tokenized Stock Listings

Issuer objections complicate an OKX and ICE-backed trading venture

Six additional companies, including Wells Fargo, Arm Holdings and Intuit, have said they will not allow their shares to be tokenized on a trading platform backed by crypto exchange OKX and Intercontinental Exchange, according to a regulatory document reviewed by Reuters.

The objections bring the total number of companies opposing listings on the joint platform to 22. The document sets out the venture’s rules and the companies that have objected, but does not explain the reasons for each decision. Representatives for Wells Fargo and Intuit declined to comment, while an Arm spokesperson did not immediately respond.

Tokenized stocks are digital tokens designed to represent shares and trade on blockchain-based systems. Advocates say the format could support round-the-clock trading and faster settlement. OKX and ICE had planned to tokenize 63 stocks, but the project has encountered resistance from issuers.

The companies’ objections matter under the framework proposed by OKX and ICE. The venture filed with the U.S. Securities and Exchange Commission this month to operate under a new innovation exemption. That framework requires platforms to notify issuers before listing tokenized versions of their shares and prevents a listing when the issuer objects.

Nasdaq has said it is open to tokenization in principle but argues that products should remain subject to established rules and investor protections. It has warned that weak oversight could fragment liquidity and impair price discovery. Under the SEC exemption, tokenized shares must carry the same rights and privileges as traditional securities, including dividends and voting rights.

Sources

https://www.reuters.com/legal/government/wells-fargo-intuit-others-object-their-shares-being-tokenized-regulatory-2026-10-23/