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OKX raises new funding at $25B valuation with Circle and Ripple

The round follows a March deal in which Intercontinental Exchange invested about $200 million in OKX at the same $25 billion valuation.

Reported · Written up by our desk · Market Structure

OKX has raised new funding at a $25 billion valuation, with investors including Circle Internet Group, Ripple, and Standard Chartered’s investment arm SC Ventures, according to Decrypt citing Bloomberg. A London quantitative hedge fund, Qube Research & Technologies, also joined the cap table. OKX declined to disclose how much it raised.

The new round extends a funding round that closed in March, when Intercontinental Exchange, the NYSE owner, put about $200 million into OKX at the same $25 billion valuation. The March deal was framed around tokenized securities, and Decrypt notes the valuation has not moved seven months later.

OKX said the funding is intended to strengthen its long term market infrastructure. Haider Rafique, the exchange’s global managing partner, said the investment targets that infrastructure, while QRT, described as a Credit Suisse spinout, said its investment reflects confidence in the long term growth of digital assets and 24/7 markets.

Decrypt also reports that OKX and ICE have been building together since March, including their joint venture OKXICE LLC, which said on Monday it is developing its efforts alongside the funding.

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