OKX draws investment from StanChart, Circle, Ripple as it pushes beyond crypto exchange roots
The exchange is increasingly aiming to position itself as a global financial tech platform spanning crypto, payments and tokenized assets, following an investment and joint venture with NYSE parent ICE.
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Summary
- OKX secured new investment from Circle, Ripple, QRT and Standard Chartered’s SC Ventures at a $25 billion pre-money valuation as it expands beyond crypto trading.
- The funding comes as OKX and NYSE owner ICE plan a 24/7 market for tokenized U.S. stocks, using stablecoins for trading and settlement.
- Macquarie expects early demand for the tokenized-stock platform to skew toward retail investors, with regulatory uncertainty and integration costs posing hurdles for institutions.
