OKX raises new funding at a flat $25 billion valuation
VC & Fundraising ·
The crypto exchange closed a funding round backed by Standard Chartered, Circle, Ripple, and Qube Research & Technologies, with the valuation unchanged from an earlier investor mark.
OKX has secured new capital at a $25 billion valuation, according to a report attributed to Bloomberg. The round brings together a mix of banking, stablecoin, and trading infrastructure players: Standard Chartered Ventures, Circle, Ripple, and London-based quantitative hedge fund Qube Research & Technologies. The amount raised was not disclosed in the reporting.
Notably, the $25 billion figure matches the valuation set when ICE and NYSE invested in OKX seven months earlier, meaning the exchange's valuation has held flat rather than risen between the two rounds, as detailed by Decrypt. The participation of Circle and Ripple, both issuers tied to major stablecoins, alongside a traditional bank's venture arm, points to continued interest from regulated financial players in exchange infrastructure even as the headline valuation did not climb.
Multiple reports have converged on largely the same set of details, with the investor list consistently naming Standard Chartered, Circle, Ripple, and Qube Research & Technologies across separate accounts, as also reported by WuBlockchain. The repetition across at least seven distinct sources in the cluster suggests the core facts of the deal — the $25 billion figure and the four named backers — are well corroborated, even though the exact size of the capital raised remains unspecified in any of the available reporting.
What remains unclear is the total dollar amount OKX raised in this round, the use of proceeds, and whether additional investors beyond the four named firms participated. It is also not yet established whether this round carries any new terms or structural differences from the ICE/NYSE investment that set the same $25 billion benchmark seven months prior. Further detail from OKX or the parties involved would clarify the round's full scope.