OKX, a leading crypto exchange, infrastructure provider, and tokenization platform, has extended a funding round at a $25 billion pre-money valuation.
As was previously reported, ICE, the parent company of the NYSE, has partnered with OKX to enable 24/7 trading of tokenized assets. The updated marketplace will kick off with 60 of the top securities traded on US exchanges today. The partnership included an investment in OKX, which has now been broadened to more investors, including Circle, Qube Research & Technologies (QRT), Ripple, and SC Ventures.
When the ICE investment was made, OKX said the capital commitment was not an endpoint: “It is the beginning of a deeper collaboration. Our goal is to help shape the next chapter of financial markets, where digital and traditional infrastructure work together to expand access, strengthen trust, and support innovation across the global economy.”
OKX and ICE formed a 50-50 joint venture named OKXICE. Securities will be issued under the SEC’s new Innovation Exemption. The ICE investment was reported at around $200 million.
The four platforms mentioned above each bring interesting digital asset skills to the table. OKX outlined these perks as follows:
- Circle is a leading internet financial platform company and the issuer of USDC*, the world’s largest regulated stablecoin.
- QRT, a global multi-strategy investment manager and a major institutional counterparty to OKX, provides liquidity and risk capacity at scale and works closely with OKX to launch and grow new products and markets.
- Ripple brings payments, liquidity, and stablecoin infrastructure expertise, with its RLUSD stablecoin available across OKX’s unified order book.
- Standard Chartered serves as custodian for BUIDL, the tokenized Treasury fund at the center of the collateral framework launched in partnership with OKX and BlackRock.
Star Xu, founder and CEO of OKX, said their goal is to build the Fintech platform for the future that “combines crypto technology with the standards people expect from global financial institutions.” He added that OKX is “evolving into a broader global financial technology platform.”
Terms of the deal were not immediately available. OKX has not revealed whether it is profitable or not, but reports indicate that top-line revenue is increasing dramatically. OKX is a top centralized crypto exchange, excelling in derivative products. For spot crypto trading, OKX ranks lower.