OKX draws investment from Stan
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
OKX has secured new investments from Circle, Ripple, Qube Research & Technologies (QRT), and Standard Chartered’s SC Ventures at a $25 billion pre-money valuation. This funding supports OKX's expansion from a crypto trading exchange into a broader financial technology platform covering crypto, payments, and tokenized traditional assets. OKX and ICE, the NYSE owner, are collaborating on a 24/7 market for tokenized U.S. stocks using stablecoins for trading and settlement.
Why it matters
This development signals a growing shift among crypto exchanges toward becoming comprehensive financial platforms that merge traditional finance with blockchain technology. The tokenized stock platform represents an early experiment under the SEC's tokenization framework, potentially broadening stablecoin use beyond crypto trading into regulated markets. However, the source notes uncertainty about institutional adoption due to regulatory and integration challenges.
Key context
The new funding is an extension of OKX's prior investment from Intercontinental Exchange (ICE) in March, maintaining the company's $25 billion valuation. The collaboration with ICE includes plans to offer tokenized shares of 63 U.S. companies that retain dividend and voting rights. Macquarie and TD Securities have highlighted potential hurdles for institutional participation, including regulatory uncertainty and the temporary nature of the SEC's exemption. New investors like Circle and Ripple bring stablecoin issuance and payment infrastructure expertise, while Standard Chartered has experience in custody arrangements with institutional clients.
Key numbers and entities
Investors: Circle, Ripple, Qube Research & Technologies (QRT), and SC Ventures (Standard Chartered's venture arm). Previous investor: Intercontinental Exchange (ICE). Valuation: $25 billion pre-money. Planned tokenized stock offering: shares of 63 U.S. companies on the OKX-ICE platform. Stablecoins involved: USDC, USDT, USDG, and RLUSD.
What remains unclear
The exact amount of the new investment was not disclosed. Details about the timeline for the tokenized stock market launch and the specific companies included in the tokenized offering are not provided. It is also unclear how regulatory approvals will evolve after the temporary SEC exemption period and how successfully institutional investors will adopt the platform over time.