OKX raised fresh capital at a $25 billion valuation, flat since March, from Circle, Ripple, Standard Chartered's SC Ventures and new backer Qube Research & Technologies. The round lands as OKX's joint venture with NYSE owner Intercontinental Exchange seeks approval to offer tokenized stock in 63 U.S. companies.
OKX has raised fresh capital at a $25 billion valuation, unchanged from the round it closed in March, Bloomberg reported. The money comes from a stablecoin issuer, a British bank and a London quantitative hedge fund.
Circle Internet Group, Ripple and Standard Chartered's investment arm SC Ventures all took part, alongside Qube Research & Technologies (QRT), new to the cap table. OKX declined to say how much it raised.
A new hedge fund backer joins
QRT, a Credit Suisse spinout, already runs a crypto fund holding about $1 billion. OKX's global managing partner, Haider Rafique, said the capital "focuses on strengthening OKX's long-term market infrastructure." OKX's native token OKB rose about 6% to $138 on news of the round, CoinGecko data showed.
OKXICE pushes ahead on tokenized stocks
The extension follows a March round in which Intercontinental Exchange invested about $200 million in OKX at the same $25 billion valuation. That deal built OKXICE LLC, the pair's joint venture, which on Monday said it is seeking approval to offer tokenized stock in 63 U.S. public companies, Nvidia, Apple and Coca-Cola among them.
It would operate under the SEC's innovation exemption, introduced in September, which lets qualifying venues trade tokenized U.S. equities on public blockchains without registering as national exchanges, for up to five years. The exemption covers only tokens carrying the same rights as ordinary shares, including dividends and voting, and gives issuers 30 days to object before their stock can be tokenized.
OKX has also built equity exposure through other routes, having listed perpetual futures on Magnificent Seven stocks and the S&P 500.
Sources: Decrypt, Crypto Briefing
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