OKX Secures Funding at $25B Valuation with Circle, Ripple, and Standard Chartered

OKX, a major crypto exchange, has secured new funding at a flat $25 billion valuation. The round includes investments from Circle Internet Group, Ripple, Standard Chartered's SC Ventures, and Qube Research & Technologies. The exchange did not disclose the exact amount raised. This round follows a previous one in March, where Intercontinental Exchange (ICE) invested around $200 million at the same valuation.

Haider Rafique, OKX's global managing partner, stated that the funds will be used to strengthen the exchange's long-term market infrastructure. Qube Research & Technologies, a London-based quantitative hedge fund, expressed confidence in the growth of digital assets and 24/7 markets.

OKX and ICE have been collaborating since March through their joint venture, OKXICE LLC. The venture is seeking approval to sell tokenized stock in 63 U.S. public companies, including Nvidia, Apple, and Coca-Cola. This offering would operate under the SEC's innovation exemption, allowing 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.