OKX Raises Funds at $25 Billion Valuation
Crypto exchange OKX raised an undisclosed amount from existing investors at a $25 billion valuation, with backing from SC Ventures, Qube Research, Ripple and Circle.
Crypto exchange OKX raised an undisclosed amount from existing investors and partners at a $25 billion valuation, the company announced Tuesday. Participants included SC Ventures, Standard Chartered’s investment arm; Qube Research & Technologies; Ripple; and stablecoin issuer Circle.
The funding extends a $200 million round announced in March at the same valuation. Intercontinental Exchange, the parent company of the New York Stock Exchange, led that round.
OKX plans to use the new funding to develop a global financial technology platform that combines cryptocurrency technology with standards used by traditional financial institutions. The company did not disclose the size of the latest investment.
In the announcement, OKX founder and CEO Star Xu described the company’s goal as building a platform that combines crypto technology with the standards expected from global financial institutions.
The funding announcement followed a Monday filing with the U.S. Securities and Exchange Commission by a joint venture between OKX and ICE. The filing seeks approval to launch a tokenized stock trading platform under the regulator’s new innovation exemption.
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