Crypto Platform OKX Secures Additional Funding Round With $25B Valuation
In an extension of its March funding round that was spearheaded by the New York Stock Exchange's parent entity, OKX has secured additional capital at a $25 billion valuation without revealing the exact amount.
Digital asset trading platform OKX has successfully secured an undisclosed amount of funding at a valuation of $25 billion, with capital coming from its current partners and investors.
The funding initiative included contributions from SC Ventures, which is Standard Chartered's investment division, along with Qube Research & Technologies, Ripple, and Circle, a company that issues stablecoins, according to a press announcement from OKX released on Tuesday and provided to Cointelegraph.
The cryptocurrency exchange chose not to reveal the specific amount raised in this investment round.
This capital raise serves as an extension to the funding initiative that was publicly announced in March, during which OKX successfully raised $200 million at an identical valuation from the Intercontinental Exchange (ICE), which serves as the parent company of the New York Stock Exchange.
The newly acquired capital will be allocated toward supporting OKX's transformation into a "broader global financial technology platform" that integrates "crypto technology with the standards people expect from global financial institutions," according to Star Xu, founder and CEO of OKX.
On Monday, a collaborative venture between OKX and ICE submitted a filing with the US Securities and Exchange Commission with plans to establish a tokenized stock trading platform, utilizing the regulator's new innovation exemption.