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This raises the total number of issuers opposing it to 33, up from 9 on October 15th.

According to the innovation exemption of SEC, if a company raises objections in a timely manner, trading venues will not be able to list third-party tokenized versions of that company's stocks. However, this will not affect other trading venues.

The list of opponents to the tokenized stock trading platforms OKX and ICE now includes America's largest banks.

According to a notice on Tuesday, JPMorgan Chase, Coca-Cola, and Dell Technologies were added to the list of opponents of OKXICE TSV. Advanced Micro Devices, Adobe, Applied Materials, and Sandisk were also included in the new additions. With these additions, the total number of opponents has reached 33, an increase from 26 the previous day.

This list is growing rapidly. On October 15th, there were only 9 companies on it; by October 19th, the number had increased to 16, and by October 23rd, it had reached 22. The opponents included Microsoft, Alphabet, Goldman Sachs, Wells Fargo, Intel, and Oracle. JPMorgan was the third large bank to express opposition, following Goldman and Wells Fargo which had already done so before.

According to the innovation exemption announced in September by SEC – which was introduced by this institution after the Clarity Act initiative encountered obstacles in the Senate – trading venues must notify the relevant companies before providing tokenized versions of stocks from unrelated third parties. Orders from SEC state that if a company opposes in writing within 30 days, the trading venue cannot make those stocks available for trading. This opposition applies only to that particular trading venue. The reasons for these companies' objections are not disclosed in the notifications.

OKXICE initially proposed to launch 63 tokenized stocks from 62 companies in a notice on October 4th, but several opponents, including Wells Fargo and Arm, were not on the initial list. Some large companies, including Nvidia, Tesla, Apple, and Amazon, have not yet raised any objections.

OKXICE TSV is a joint venture owned 50% each by Intercontinental Exchange, the parent company of the New York Stock Exchange, and OKX US Holdings Corporation. The venture plans to allow approved users to trade tokenized US stocks around the clock. Transactions will be conducted through a licensed Uniswap pool on the XLayer blockchain of OKX, and will be paired with stablecoins such as USDC. Previous notifications warned that if the brokerage firm of the tokenization entity goes bankrupt, it is uncertain whether the tokenized shares in the self-hosted wallets are covered by the Securities Investor Protection Corporation (SIPC).

OKX and ICE collaborated for the first time in the field of tokenized securities earlier this year and announced the launch of this 24/7 trading platform this month. Nasdaq, which has obtained approval from SEC to conduct its own tokenized securities pilot, stated that it will choose to have its stocks removed from this exemption arrangement.