OKX Secures $25 Billion Valuation with New Investments from Circle and Ripple
OKX has secured investments from Circle, Ripple, Qube Research & Technologies (QRT), and SC Ventures by Standard Chartered, valuing the exchange at $25 billion. The round follows Intercontinental Exchange's (ICE) stake in March, with the latest valuation marked as pre-money before the new capital is accounted for.
All four investors already collaborate with OKX in various capacities. QRT provides liquidity and risk management, Ripple's RLUSD stablecoin trades on OKX's platform, and Standard Chartered supports OKX's use of BlackRock's BUIDL tokenized Treasury fund as collateral for trading.
Jack McDonald, SVP of Stablecoins at Ripple, stated that the investment strengthens their partnership, particularly in stablecoins, payments, and institutional markets. The announcement comes shortly after OKXICE, a joint venture between OKX and ICE, filed with the SEC to offer 63 tokenized NYSE stocks to US users starting October 4.
Additionally, OKX launched OKX Money, a standalone app for managing dollar stablecoins. Users can save, send, and spend USDG, USDC, or USDT, with qualifying customers earning up to 10% annual interest on USDG balances in select regions. Founder Star Xu noted that the new capital will support OKX's growth and expansion into tokenizing real-world assets.