OKX maintains $25B valuation in extension round - Bloomberg

Crypto exchange operator OKX has secured fresh institutional backing, expanding its valuation to $25 billion as part of an extension round. Key participants included digital-asset infrastructure providers SC Ventures, Circle Internet Group Inc., Ripple, and Qube Research & Technologies, among others. The capital infusion builds upon a March investment from Intercontinental Exchange Inc., which had invested around $200 million at the same valuation.

OKX Global Managing Partner Haider Rafique highlighted that the primary focus of the capital raise is to strengthen the company's long-term market infrastructure. The influx of institutional capital coincides with OKX's aggressive product expansion initiatives, including a joint venture entity, OKXICE LLC, pursuing regulatory approval for tokenized shares of 63 publicly traded U.S. companies, including Nvidia Corp. and Apple Inc. The regulatory pathway, coupled with strong institutional partnerships, positions OKX to meet the growing demand for round-the-clock equity trading infrastructure.