Cryptocurrency exchange OKX has raised a fresh, undisclosed amount of capital at a $25 billion valuation, extending the funding round it announced in March. The company said the latest raise came from existing partners and investors, with participation from SC Ventures, the investment arm of Standard Chartered, as well as Qube Research & Technologies, Ripple and stablecoin issuer Circle. OKX did not disclose the size of the round.
The new financing follows OKX’s March announcement that it had raised $200 million at the same $25 billion valuation from Intercontinental Exchange, or ICE, the parent company of the New York Stock Exchange. According to OKX, the latest capital will support its shift toward what founder and CEO Star Xu described as a broader global financial technology platform that combines crypto technology with the standards expected from global financial institutions.
The announcement came a day after an OKX-ICE joint venture filed with the US Securities and Exchange Commission to launch a tokenized stock trading platform under the regulator’s new innovation exemption.
Cryptocurrency exchange OKX has raised a fresh, undisclosed amount of capital at a $25 billion valuation from its existing partners and investors.
In a Tuesday press announcement shared with Cointelegraph, OKX said the round included SC Ventures, Standard Chartered’s investment arm, Qube Research & Technologies, Ripple and stablecoin issuer Circle.
The new raise extends OKX’s March funding round
OKX declined to disclose the size of the latest investment round.
The company described the raise as an extension of the funding round announced in March. At that time, OKX said it had raised $200 million at the same $25 billion valuation from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.
Funds are earmarked for a broader fintech push
The fresh capital will help OKX transition into a “broader global financial technology platform” that combines “crypto technology with the standards people expect from global financial institutions,” according to OKX founder and CEO Star Xu.
SEC filing came one day earlier
On Monday, a joint venture between OKX and ICE filed with the US Securities and Exchange Commission to launch a tokenized stock trading platform under the regulator’s new innovation exemption.
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