OKX Secures Strategic Investment at $25 Billion Valuation

Crypto exchange OKX has attracted major investment from several key players in the financial and cryptocurrency sectors. The new strategic round, led earlier this year by the Intercontinental Exchange (NYSE's parent company), now includes participation from Circle, QRT, Ripple, and SC Ventures. The company's valuation has soared to $25 billion as a result of this investment, though the exact amount raised was not disclosed.

The round strengthens OKX's partnerships with Circle, the issuer of USDC; QRT, an investment manager; Ripple, the issuer of RLUSD; and Standard Chartered, which acts as custodian for BUIDL, a tokenized Treasury fund developed in collaboration with OKX and BlackRock. Last week, a joint venture between OKX and ICE filed regulatory paperwork to introduce tokenized stock trading.

Star Xu, CEO of OKX, emphasized the company's vision to build a next-generation financial technology platform that integrates crypto technology with traditional financial standards. The investment provides OKX with the capital needed to expand its operations, particularly in tokenizing real-world assets. Xu noted that while the exchange remains the foundation, the company is evolving into a broader global financial technology platform.

In addition to its strategic investments, OKX has launched a standalone app that allows users to save, send, and spend digital dollars. The app offers features such as earning on eligible balances, global spending with zero FX fees, and cashback on qualifying purchases.