OKX Raises Fresh Funding at $25B Valuation

OKX raises fresh funding at $25B valuation from Standard Chartered, Circle, Ripple.

The investor mix is arguably more important than the capital itself.

Standard Chartered’s SC Ventures, Circle and Ripple are taking stakes just seven months after NYSE parent Intercontinental Exchange (ICE) invested ~$200M in OKX at the same $25B valuation.

It is another sign of the convergence between traditional market infrastructure and crypto-native distribution.

OKX is already one of the world’s largest spot and derivatives exchanges, serving more than 120M users globally, with regulated operations across major markets including the US, Europe, Dubai, Singapore and Australia.

And it is now becoming an important distribution layer for tokenized securities.

Through its 50:50 joint venture with ICE, OKXICE has filed to launch 24/7 trading in tokenized shares of more than 60 US-listed companies under the SEC’s new Innovation Exemption framework.

This is much bigger than another crypto exchange adding tokenized stocks.

It could be the beginning of a new distribution architecture for US capital markets:

1️⃣ NYSE / ICE → regulated market infrastructure

2️⃣ OKX → global digital-asset distribution

3️⃣ X Layer → onchain issuance and trading infrastructure

And that makes the strategic logic behind this funding particularly interesting.

- For Circle and Ripple, OKX is distribution for stablecoins

- For Standard Chartered, it is a distribution and infrastructure partner for institutional digital assets

- For ICE, it potentially provides access to more than 120M crypto-native users for tokenized equities and other regulated products

- For OKX, these companies provide the stablecoin, custody, liquidity and regulated-market infrastructure it needs to move beyond being a crypto exchange

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