OKX exchange raises fresh capital at $25B valuation
OKX raised an undisclosed amount at a $25 billion valuation as an extension to March’s investment round led by the parent company of the New York Stock Exchange.
Cryptocurrency exchange OKX raised an undisclosed sum at a $25 billion valuation from its existing partners and investors.
The round saw participation from Standard Chartered’s SC Ventures investment arm, Qube Research & Technologies, Ripple and stablecoin issuer Circle, OKX announced in a Tuesday press announcement shared with Cointelegraph.
OKX declined to disclose the size of the investment round.
The raise marks an extension to the funding round announced in March, when OKX raised $200 million at the same valuation from the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.
The fresh funding will be used to help OKX transition into a “broader global financial technology platform” that combines “crypto technology with the standards people expect from global financial institutions,” said Star Xu, founder and CEO of OKX.
On Monday, a joint venture between OKX and ICE filed with the US Securities and Exchange Commission to launch a tokenized stock trading platform, under the regulator’s new innovation exemption.