OKX Raises Fresh Capital at Flat $25 Billion Valuation

Crypto exchange OKX has raised new funding at a $25 billion valuation, according to Bloomberg, keeping its valuation unchanged from a previous round closed in March.

Participants in the funding round include Circle Internet Group, Ripple, Standard Chartered's investment arm SC Ventures, and London quantitative hedge fund Qube Research & Technologies, which is new to the cap table. The exchange declined to disclose the exact amount raised in the round.

Strengthening Infrastructure

The fresh capital focuses on strengthening OKX's long-term market infrastructure, according to Haider Rafique, the exchange's global managing partner. Meanwhile, Qube Research & Technologies—a Credit Suisse spinout running a crypto fund holding about $1 billion—participated to reflect confidence in the long-term growth of digital assets and 24/7 markets, as stated by quantitative trading director Thomas Eaton.

Tokenized Equities Push

The funding follows expansion efforts by OKX and Intercontinental Exchange, the owner of the New York Stock Exchange, which previously invested around $200 million in OKX at the same $25 billion valuation in March. Their joint venture, OKXICE LLC, announced it is seeking approval to sell tokenized stock in 63 U.S. public companies, including Nvidia, Apple, and Coca-Cola, under the Securities and Exchange Commission's innovation exemption.

Key facts

• OKX raised fresh capital at a flat $25 billion valuation, matching its March round.
• Participants included Circle, Ripple, SC Ventures, and Qube Research & Technologies.
• The funding aims to strengthen OKX's long-term market infrastructure.
• OKX and ICE's joint venture is seeking approval to offer tokenized shares in 63 U.S. public companies.