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OKX completes strategic investment round led by Circle and Ripple
OKX valued the latest round at $25 billion pre-money, keeping the valuation level it set in a March investment led by ICE.
OKX has completed a strategic investment round that adds Circle, Ripple, and Standard Chartered’s venture arm to its cap table as the crypto exchange expands its stablecoin-focused financial services, according to CryptoSlate.
On Oct. 6, OKX CEO Star Xu confirmed the transaction was completed at a $25 billion pre-money valuation, with Circle, Qube Research & Technologies, Ripple, and SC Ventures participating through Standard Chartered.
CryptoSlate reported that OKX did not disclose the amount it raised, and that the $25 billion valuation matched the level set in a March round led by Intercontinental Exchange, the owner of the New York Stock Exchange.
Xu said OKX chose the new investors for strategic fit rather than because it needed additional financing, and described longer-term plans spanning payments, institutional liquidity, and tokenized assets.