OKX raises more funding at $25 billion valuation with Circle Ripple and StanChart

OKX, a major crypto exchange, has expanded its funding round from March, now valued at $25 billion. The latest injection of capital comes from existing investors, including hedge fund Qube Research & Technologies, Circle Internet Group, Ripple, and Standard Chartered's venture arm SC Ventures. The company has not disclosed the exact amount of new capital raised.

The extension builds on OKX's March round, which saw Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, invest approximately $200 million at the same valuation. This continued interest highlights the enduring appeal of large centralized exchanges, despite regulatory challenges and fluctuations in spot market volumes.

The involvement of traditional financial institutions (TradFi) and prominent crypto firms underscores the sector's resilience and the strategic importance of centralized exchanges in the evolving crypto landscape.