OKX Secures $25 Billion Extension Round with Strategic Investors

OKX, the crypto exchange, has raised additional funding in an extension round valued at $25 billion. The round included participation from Qube Research & Technologies (QRT), a global quantitative hedge fund, along with existing investors Circle, Ripple, and Standard Chartered’s SC Ventures. OKB, the platform’s native token, saw a 6% increase to $138 following the announcement, according to CoinGecko data. This valuation matches the $25 billion set in March, when Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, invested $200 million in OKX.

The new capital will be used to bolster OKX’s market infrastructure, though specific details on the amount raised were not disclosed. OKX CEO Star Xu stated that the funding was not driven by necessity but rather by the desire to bring in strategic partners who align with the company’s long-term vision for stablecoins, payments, institutional markets, and financial infrastructure.

The investment comes amid growing collaboration between traditional financial firms and crypto platforms. Following ICE’s investment, OKX and ICE formed a joint venture, OKXICE LLC, focused on tokenized stock trading. OKXICE is seeking approval to offer tokenized stocks representing 63 US public companies, including NVIDIA, Apple, and Tesla, under the SEC’s five-year innovation exemption.