INSTITUTIONAL | Wells Fargo, Arm, and Intuit Join Growing Pushback Against Tokenized Stocks

Six more companies, including Wells Fargo, Arm Holdings, and Intuit have objected to plans by crypto exchange, OKX, and Intercontinental Exchange (ICE) to offer on-chain tokenized versions of their shares bringing the total number of objecting companies to 22, according to a regulatory document reviewed by Reuters. The new additions come less than a week after 7 more companies, most notably: Microsoft, Alphabet, Goldman Sachs, Qualcomm, Caterpillar, McDonald’s, and Western Digital were named in an updated notice dated October 19, joining earlier objectors including Broadcom, Verizon, and United Health Group.