Key facts
- OKX raised new funding at a $25 billion valuation, unchanged from a March round.
- Circle, Ripple, SC Ventures, and Qube Research & Technologies participated in the funding.
- The funds will be used to strengthen OKX's long-term market infrastructure.
- OKX's joint venture with ICE seeks SEC approval for tokenized stock trading in 63 U.S. companies.
- The tokenized stock offering would operate under the SEC's innovation exemption.
Crypto exchange OKX has secured new funding at a $25 billion valuation, maintaining the same valuation from its March funding round. The investment saw participation from Circle Internet Group, Ripple, Standard Chartered's investment arm SC Ventures, and quantitative hedge fund Qube Research & Technologies. OKX stated the funds will be used to strengthen its long-term market infrastructure.
Separately, OKX's joint venture with Intercontinental Exchange (ICE), called OKXICE LLC, is seeking approval from the Securities and Exchange Commission (SEC) to offer tokenized stock in 63 U.S. public companies. This offering would operate under the SEC's innovation exemption, which allows qualifying venues to trade tokenized U.S. equities on public blockchains for up to five years without registering as national securities exchanges. The exemption specifies that only tokens carrying the same rights as ordinary shares, such as dividends and voting rights, are permitted, excluding synthetics that merely track a price. Each issuer has 30 days to object to their shares being tokenized.