OKX Secures Funding at $25 Billion Valuation with New Investors

OKX has secured new funding in a round valuing the crypto exchange at $25 billion, matching its March valuation. Circle Internet Group, Ripple, Standard Chartered's SC Ventures, and hedge fund Qube Research & Technologies participated in the investment. The exchange did not disclose the amount raised.

The fresh capital aims to bolster OKX's long-term market infrastructure, according to Haider Rafique, the exchange's global managing partner. Qube Research & Technologies, a London-based quantitative hedge fund, expressed confidence in the growth of digital assets and 24/7 markets through its investment.

OKX and Intercontinental Exchange (ICE) have been collaborating since March, focusing on tokenized securities. Their joint venture, OKXICE LLC, is seeking approval to offer tokenized stock in 63 U.S. companies, including Nvidia, Apple, and Coca-Cola. The offering would operate under the SEC's innovation exemption, which allows tokenized U.S. equities to trade on public blockchains without registering as national securities exchanges.

The exemption has specific conditions, such as a cap on the number of stocks each venue can list and a 30-day window for issuers to object to tokenization. OKX has also expanded equity exposure by listing perpetual futures on Magnificent Seven stocks and the S&P 500.