Strategic Backers Join at $25 Billion Valuation Crypto exchange OKX has closed a new strategic investment round backed by Ripple, Circle, quantitative investment manager Qube Research and Tec
Crypto exchange OKX has closed a new strategic investment round backed by Ripple, Circle, quantitative investment manager Qube Research and Technologies (QRT), and Standard Chartered's SC Ventures. The round is an extension of a March financing in which NYSE parent Intercontinental Exchange (ICE) invested roughly $200 million into OKX at the same $25 billion valuation. The latest participants did not disclose the size of their individual contributions.
All four new investors already work with OKX across key parts of its infrastructure, including USDC and RLUSD stablecoins, institutional liquidity, and custody. Ripple brings payments, liquidity, and stablecoin infrastructure expertise, with its RLUSD stablecoin available across OKX's unified order book. Circle is the issuer of USDC, the world's largest regulated stablecoin. Standard Chartered acts as custodian for BUIDL, the tokenized Treasury fund at the center of the collateral framework launched in partnership with OKX and BlackRock. QRT, a London-based quantitative trading firm and spinout of Credit Suisse, also joined the cap table and runs a crypto fund with around $1 billion in assets.
OKX CEO and founder Star Xu has been clear that capital was not the primary motivation. "The exchange was our starting point, and we are evolving into a broader global financial technology platform," Xu said, adding that the capital will support tokenizing real-world assets. Rather than seeking funds, OKX wanted investors already embedded in its infrastructure and aligned with its long-term financial strategy.
ICE and OKX have been building together since March, and their joint venture, OKXICE LLC, is now seeking approval to sell tokenized stock in 63 U.S. public companies, including Nvidia, Apple, and Coca-Cola. The initiative would operate under the U.S. Securities and Exchange Commission's innovation exemption framework. The agreement gives OKX's more than 120 million registered users a pathway to traditional markets through a familiar crypto interface, once U.S. regulatory approvals arrive.
The new investor lineup reflects a deliberate effort to bring together the key builders of stablecoin, payments, liquidity, and custody infrastructure under one strategic umbrella, as OKX positions itself as a next-generation financial technology platform rather than a pure crypto trading venue.
Sources:Bloomberg: OKX Raises Funds at $25 Billion Valuation With Backing From StanChart, CircleOKX Official Announcement: Strategic Investment From Circle, QRT, Ripple and SC VenturesDecrypt: Circle, Ripple and Standard Chartered Back OKX at Flat $25B Valuation
