OKX Raises Strategic Investment at $25 Billion Valuation

OKX has secured a strategic investment from Circle, Ripple, Qube Research Technologies and SC Ventures, the venture arm of Standard Chartered, in an extension round valuing the cryptocurrency exchange at $25 billion before the new capital. OKX did not disclose how much the investors provided or their individual stakes. The valuation matches the figure reported for an investment by Intercontinental Exchange, the owner of the New York Stock Exchange, in OKX in March. The latest financing extends that earlier round and brings in companies that already have business or infrastructure relationships with the exchange, according to OKX and reports on the deal. OKX founder and chief executive Star Xu said the company intends to expand beyond crypto trading into a broader financial technology platform. He said the new capital would support growth and plans to tokenize real-world assets. The company’s stated ambition is to bring holding, payments and investing together on one platform. The investors have links to different parts of OKX’s business. Circle issues USDC, while Ripple provides payments infrastructure and its RLUSD stablecoin is available through OKX’s trading system.