OKX Raises Fresh Funding at $25 Billion Valuation; Circle, Ripple and SC Ventures Join

Global cryptocurrency exchange OKX has raised fresh funding at a $25 billion valuation.

Bloomberg reported on Oct. 6 that investors in the round included Circle, Ripple, SC Ventures, Standard Chartered's investment arm, and London-based hedge fund Qube Research & Technologies, or QRT.

OKX did not disclose the size of the investment. The deal extends a funding round launched in March, when Intercontinental Exchange, the parent of the New York Stock Exchange, invested about $200 million at the same $25 billion valuation.

Haider Rafique, OKX's global managing partner, said the new funding is aimed at strengthening the company's long-term market infrastructure.

QRT's participation is also notable. The firm has invested in algorithmic trading technology company Tread.fi and operates Moebius, a crypto-focused fund. The fund managed about $1 billion in assets as of last year.

OKX is also working with ICE to build a tokenized stock trading platform. The companies' joint venture, OKXICE, is pursuing a plan to use the US Securities and Exchange Commission's innovation exemption framework to tokenize and trade shares of 63 US-listed companies, including Nvidia, Apple and Coca-Cola.