OKX Secures Funding at $25 Billion Valuation with New Investors

OKX, a global cryptocurrency exchange, has secured fresh funding at a valuation of $25 billion. The latest round included investments from Circle, Ripple, SC Ventures, and Qube Research & Technologies (QRT). The company did not disclose the exact amount raised but noted that this extends a funding round initiated in March, when Intercontinental Exchange (ICE) invested approximately $200 million at the same valuation.

Haider Rafique, OKX's global managing partner, stated that the new funding aims to bolster the company's long-term market infrastructure. QRT's involvement is particularly noteworthy, as the firm has previously invested in algorithmic trading technology and manages a crypto-focused fund with around $1 billion in assets.

OKX is also collaborating with ICE to develop a tokenized stock trading platform. Their joint venture, OKXICE, plans to utilize the U.S. Securities and Exchange Commission's innovation exemption framework to tokenize and trade shares of 63 U.S.-listed companies, including Nvidia, Apple, and Coca-Cola.