OKXICE Co-Chair Cuomo Says Companies' Opposition to Tokenized Stock Listings Is Natural
Summary
- Cuomo said companies' opposition to trading stock tokens is a natural response.
- He said the project is effectively a test bed, with limits on the number of participating companies and trading volume, and is now in a pilot phase for the model.
- Sixteen companies, including Microsoft, Alphabet and Goldman Sachs, said they formally oppose tokenized stock listings through OKXICE.
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Former New York Governor Andrew Cuomo, co-chair of the OKX-ICE joint venture OKXICE, said companies' opposition to tokenized stock listings is a natural response.
CoinDesk reported on October 20 that Cuomo said companies' pushback against stock token trading was to be expected and that the model was designed to let companies decide for themselves whether to participate.
He said he had expected many companies to watch developments rather than join at the outset, given the scale of the change.
Cuomo added that the project is effectively a test bed because there are limits on both the number of participating companies and trading volume. The model is now in a pilot phase.
The comments came after 16 companies, including Microsoft, Alphabet, Goldman Sachs, Qualcomm and McDonald's, formally opposed tokenized stock listings through OKXICE.
JH Kim
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