OKX Closes Strategic Round at $25 Billion Valuation Global cryptocurrency exchange @OKX has completed a new strategic funding round at a $25 billion valuation, drawing commitments from some o
Global cryptocurrency exchange @OKX has completed a new strategic funding round at a $25 billion valuation, drawing commitments from some of the most prominent names in both traditional finance and the digital asset industry.
@Circle, @Ripple, and Standard Chartered's investment arm @scventuresDNA all participated in the fundraise, according to an OKX press release. Quant hedge fund Qube Research and Technologies also joined the round, adding fresh capital alongside existing partners.
OKX did not disclose the total amount raised. The round is an extension of a deal closed in March, when New York Stock Exchange parent Intercontinental Exchange (ICE) put roughly $200 million into the exchange at the same valuation.
The composition of investors signals a deepening convergence between traditional financial institutions and digital asset markets. Standard Chartered, one of the largest international banks, is participating through its venture subsidiary. Circle, the issuer of the USDC stablecoin, and Ripple, the blockchain payments company behind $XRP, round out a group of backers with direct stakes in the broader digital asset ecosystem.
Reuters reported that as part of the earlier ICE deal, ICE will license OKX's spot crypto pricing data and launch regulated crypto futures contracts in the United States, while OKX will distribute ICE's futures and tokenised equity products to its global user base.The March investment also gave ICE a seat on OKX's board, although the financial terms of that arrangement were not disclosed.
The latest round builds on that foundation, reinforcing OKX's position as one of the most institutionally backed crypto exchanges in the world. The $25 billion valuation places OKX firmly in the upper tier of global exchanges.
Sources:Bloomberg: OKX Raises Funds at $25 Billion Valuation With Backing From StanChart, CircleBloomberg: NYSE Owner Invests in Crypto Firm at $25 Billion Valuation
