OKX Raises New Backing at $25B Valuation as It Expands Beyond Trading
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OKX has secured new investment from Circle, Ripple, Qube Research & Technologies and SC Ventures, according to Blockonomi. The exchange did not say how much the investors committed, but the deal holds its pre-money valuation at $25 billion.
The financing builds on a March investment from Intercontinental Exchange, the parent of the New York Stock Exchange. Together the backers tie OKX to firms already active in stablecoins, payments, custody and institutional trading — areas the exchange now wants to sell alongside digital assets.
Key facts
- Circle, Ripple, Qube Research & Technologies and SC Ventures invested in OKX; the size was not disclosed.
- The transaction keeps OKX’s pre-money valuation at $25 billion.
- It extends a March investment from Intercontinental Exchange, owner of the NYSE.
- OKX aims to combine trading, payments and investing on a single platform.
- OKXICE, OKX’s joint venture with ICE, filed with the SEC to offer 24/7 trading in tokenized shares of 63 U.S. companies, settling on OKX’s X Layer blockchain and stablecoins.
A partner list assembled around stablecoins and payments
The new investors are not passive names. Circle issues the USDC stablecoin. Ripple runs payment products and issues the RLUSD stablecoin, and it is separately expanding blockchain payment activity in Asia through an XRP-based payments push. SC Ventures is the venture arm of Standard Chartered, which also works with BlackRock and OKX on custody arrangements tied to tokenized assets. QRT brings institutional liquidity and trading capacity to the table.
The structure of the deal mirrors a wider trend among crypto exchanges: adding services that sit closer to traditional finance as trading revenue becomes harder to grow. Payments, stablecoins, equities and tokenized assets have become the areas where large platforms see room to expand. Stablecoin use outside crypto trading keeps building too — a settlement pilot between Lloyds and Visa tested faster transfers across financial networks, adding another example of blockchain-based payment rails.
Tokenized stocks and the liquidity test
OKX’s more ambitious move runs through OKXICE, its joint venture with ICE. The venture filed with the SEC to offer round-the-clock trading in tokenized shares of 63 U.S. companies, using OKX’s X Layer blockchain and stablecoins for settlement. The proposal places a crypto platform directly against the trading hours and settlement conventions of U.S. equities, and it follows related plans for 24/7 tokenized U.S. stock trading as digital asset firms test regulated access to traditional securities.
Macquarie said institutional adoption will depend on liquidity, company participation and reliable pricing throughout the day. A temporary five-year SEC framework may also affect how quickly large firms connect their systems to any approved market.
Why it matters
For OKX, the funding converts its expansion plan from an internal roadmap into a set of named partners with stablecoin, payments and custody capabilities. The company now has to prove that retail users and institutions will actually adopt a wider platform as it enters more regulated financial services worldwide. The immediate test is less about capital and more about whether a 24/7 tokenized equity market can attract the depth and pricing that Macquarie and other institutional players say they require.
What to watch
The SEC’s response to the OKXICE filing is the next concrete marker, along with how many of the 63 named companies participate once trading opens. The temporary five-year regulatory framework will also shape how quickly large firms connect.
The plans described here concern future products and market adoption, not guaranteed outcomes; this is not financial advice, and crypto and tokenized-equity markets remain volatile and uncertain.
Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.
Source: Blockonomi
