According to Bloomberg, Ripple has joined forces with Circle, Standard Chartered's investment department SC Ventures, as well as quantitative trading firms Qube Research and Technologies (QRT) to participate in a new round of financing for the crypto exchange OKX. The valuation of OKX is $25 billion.

OKX has not yet disclosed the scale of this new investment. Prior to this round of financing, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, invested $200 million in OKX in March of this year with a valuation of the same $25 billion.

OKX Valuation Maintained at $25 Billion

The latest round of financing has maintained the valuation of OKX at the same level as during the March financing, indicating that seven months later, investors are still supporting this exchange with the same valuation.

This batch of new investors has also brought companies from various fields within the finance and digital assets industries onto the OKX shareholder list. Circle is the issuer of USDC stablecoins, Ripple provides blockchain-based payment and digital asset infrastructure, while SC Ventures represents the investment department of Standard Chartered Bank.

London-based quantitative trading firm QRT has also joined the ranks of investors in OKX. The company was spun off from Credit Suisse and already has an crypto fund with an asset size of approximately $1 billion.

New funds will be used to support market infrastructure.

OKX Global Management Partner Haider Rafique stated that this financing will be used to strengthen the exchange's long-term market infrastructure.

QRT, the head of quantitative trading, stated that this investment reflects the company's long-term view on digital assets and the 24-hour market growth. Thomas Eaton

How much capital each participant has invested remains undisclosed by the relevant companies.

OKX Expands into the Field of Tokenized Stocks

During this round of financing, OKX continues to expand beyond its traditional cryptocurrency trading business.

OKX and ICE have been cooperating through their joint venture, OKXICE LLC. This joint venture has recently sought approval to offer tokenized stocks of 63 listed companies in the United States, including NVIDIA, Apple, and Coca-Cola.

The proposed product will operate under a new innovative exemption mechanism established by the U.S. Securities and Exchange Commission (SEC). This mechanism allows eligible platforms to trade certain tokenized U.S. stocks on public blockchains without the need to register as a national securities exchange.

OKX has also expanded its stock-related products by adding perpetual futures linked to major U.S. stocks, with targets including the 'Big Seven' of U.S. equities as well as the S&P 500 index.

Therefore, this latest round of financing comes at a time when the exchange is continuously working on developing products centered around digital assets and blockchain-based financial markets.

Credit attribution

The content of this article is based on a paraphrase of Bloomberg reports by CoinPedia. The specific financing scale and the exact amounts contributed by each party are not independently disclosed in the text.