OKX said Circle, Ripple, Qube Research and Technologies, and SC Ventures, Standard Chartered’s venture arm, invested at an unchanged $25 billion valuation. That matters because this was not a higher-priced round. It adds new backers without changing the company’s headline value, after OKX had already disclosed an investment from Intercontinental Exchange in March.
The bigger point is where OKX is trying to grow. The company has been pushing beyond exchange trading into stablecoin services through the OKX Money app for saving, transferring, and spending digital dollars, and into tokenized stocks. So this raise looks less like a reset on valuation and more like support for that broader expansion. The next test is whether OKX can turn those newer products into real adoption while navigating the regulatory hurdles that come with moving further beyond its core exchange business.