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OKX Secures Funding From SC Ventures, Circle and Ripple at US$25 Billion Valuation

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OKX Secures Funding From SC Ventures, Circle and Ripple at US$25 Billion Valuation

OKX has completed a strategic investment from Circle, Qube Research & Technologies (QRT), Ripple and SC Ventures by Standard Chartered at a US$25 billion pre-money valuation.

The funding extends the round led by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, which OKX announced in March.

The investment builds on existing partnerships supporting OKX’s stablecoin, liquidity, collateral and custody infrastructure.

Circle issues USDC, which is integrated across OKX’s platform. QRT provides liquidity and risk capacity as an institutional counterparty and works with OKX to launch and grow products and markets.

Ripple indicated that its investment could deepen collaboration on stablecoins, payments and institutional markets.

Standard Chartered serves as custodian for BUIDL, BlackRock’s tokenised Treasury fund, which sits at the centre of a collateral framework launched in partnership with OKX and BlackRock.

“Our vision is very simple: hold it, pay with it, invest it, and grow it. We want to build the financial technology platform for the next generation, one that combines crypto technology with the standards people expect from global financial institutions.

That is the foundation for this round. It gives us the capital to keep growing and to tokenize real-world assets, and Circle, QRT, Ripple and Standard Chartered are investing alongside us. The exchange was our starting point, and we are evolving into a broader global financial technology platform.”

Featured image: Edited by Fintech News Singapore, based on image by Magnific



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