Intel, Oracle, IBM, and IonQ have joined the ranks of companies opposing the blockchain stock trading initiative proposed by cryptocurrency exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, bringing the total number of opposing issuers to 26.

OKXICE, a joint venture between the two companies, is preparing to test blockchain-based stock trading under a new framework from the U.S. Securities and Exchange Commission (SEC). The SEC's five-year "innovation waiver" allows eligible platforms to test 24/7 blockchain-based stock trading and grants public companies the option to prevent their shares from being tokenized. The latest public notice, dated Monday, October 26, disclosed the opposition from these four companies, following previous objections from entities including Microsoft, Google, Goldman Sachs, Cisco, and Wells Fargo.

The growing list of opponents highlights the challenges faced by OKXICE and the SEC's new framework in establishing a market that issuers are willing to join. Industry experts note that opposition comes at no cost, while remaining silent implies allowing trading to commence with no subsequent option to withdraw consent, leading many companies to adopt a wait-and-see approach. Andrew Cuomo, Co-Chairman of OKXICE, previously stated that these objections were anticipated.