OKX secures $25 billion valuation funding from QRT and existing investors

OKX, a major crypto exchange, has raised new funding in a $25 billion valuation round, with Qube Research & Technologies (QRT) joining existing investors Circle, Ripple, and Standard Chartered’s SC Ventures. The deal extends OKX’s March funding round, which included a $200 million investment from Intercontinental Exchange (ICE). OKB, the native token of the OKX ecosystem, saw a 6% rise to $138 following the announcement.

The latest capital injection will support OKX’s efforts to enhance its market infrastructure, though specific details on the amount raised were not disclosed. This funding comes amid growing collaboration between traditional financial firms and crypto platforms to develop new market infrastructure.

Following ICE’s investment, OKX and ICE formed OKXICE LLC, a joint venture focused on tokenized stock trading. OKXICE is seeking approval to offer tokenized stocks representing 63 US public companies, including NVIDIA, Apple, and Coca-Cola, under the SEC’s five-year innovation exemption. This exemption allows tokenized stocks to trade in the US if they provide rights equivalent to traditional shares.