22 US Companies Now Object to Tokenized Shares on a New Trading Venue
• Six more issuers (Wells Fargo, Cisco, Marvell, Arm, Moderna, Intuit) filed objections, lifting the total to 22 from 9 on Oct 15 and 16 on Oct 19
• They object to their stocks trading 24/7 as tokens on a planned venue operating under the SEC's innovation exemption
• No reasons were given, and it is unclear whether objections can block listings
This is a bad sign for tokenized equities: big brand names are opting out before launch, which limits what the venue can offer. Watch for the SEC's response.
Not financial advice. DYOR.
#TokenizedStocks #RWA
• Six more issuers (Wells Fargo, Cisco, Marvell, Arm, Moderna, Intuit) filed objections, lifting the total to 22 from 9 on Oct 15 and 16 on Oct 19
• They object to their stocks trading 24/7 as tokens on a planned venue operating under the SEC's innovation exemption
• No reasons were given, and it is unclear whether objections can block listings
This is a bad sign for tokenized equities: big brand names are opting out before launch, which limits what the venue can offer. Watch for the SEC's response.
Not financial advice. DYOR.
#TokenizedStocks #RWA
