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Circle, Ripple and Hedge Fund QRT Back Crypto Exchange OKX at $25 Billion Valuation
The round adds to earlier funding as OKX and ICE prepare 24/7 tokenized U.S. equity trading against stablecoins.
- On Tuesday, crypto exchange OKX announced a new funding round at a $25 billion valuation, backed by Circle, Ripple, Standard Chartered's SC Ventures, and Qube Research & Technologies .
- This latest injection supplements capital raised earlier this year, following a strategic investment by Intercontinental Exchange in March at the same $25 billion valuation, which Bloomberg estimated at roughly $200 million.
- The capital supports OKX and ICE as they prepare to trade tokenized U.S. equities through OKXICE, their 50-50 joint venture, which has listed 63 stocks including Tesla, Microsoft, and JPMorgan.
- Under a five-year innovation exemption granted by the SEC on September 17, tokenized offerings will trade around the clock against stablecoins like USDC.
- QRT's quantitative trading director Thomas Eaton said the investment reflects confidence in "the long-term growth of digital assets and 24/7 markets," while OKX global managing partner Haider Rafique said the raise "focuses on strengthening OKX's long-term market infrastructure.
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32 Articles
OKX draws investment from Circle, Ripple after ICE deal to push beyond crypto exchange roots
The exchange is increasingly aiming to position itself as a global financial tech platform spanning crypto, payments and tokenized assets, following an investment and joint venture with NYSE parent ICE.
·New York, United States
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Circle, Ripple and Standard Chartered invest in OKX at $25 billion valuation
OKX has completed a strategic investment from Circle, Qube Research & Technologies, Ripple and Standard Chartered’s SC Ventures at a $25 billion pre money valuation, adding four existing infrastructure partners to the funding round started by NYSE parent Intercontinental Exchange…
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