OKX Secures $25 Billion Valuation with New Investors
OKX has secured investments from Circle (CRCL), Ripple, Qube Research & Technologies (QRT), and SC Ventures by Standard Chartered, valuing the exchange at $25 billion. This round builds on Intercontinental Exchange (ICE)'s stake acquired in March, with the current valuation described as pre-money.
Each investor already collaborates with OKX in different capacities. QRT provides liquidity and risk capacity, Ripple's RLUSD stablecoin trades on OKX's platform, and SC Ventures connects through BlackRock's BUIDL tokenized Treasury fund, which clients use as collateral for trading.
Jack McDonald, SVP of Stablecoins at Ripple, highlighted the investment's potential to strengthen partnerships in stablecoins, payments, and institutional markets. The news follows OKXICE's SEC filing to offer 63 tokenized NYSE stocks to US users starting October 4, pending company opt-outs.
OKX also launched OKX Money, a standalone app for stablecoin transactions. Users can save, send, and spend USDG, USDC, or USDT, with select customers earning up to 10% annually on USDG balances. CEO Star Xu emphasized the exchange's evolution into a broader financial technology platform.