Crypto exchange OKX valued at $25B in funding round, including Circle, Stanchart
Hedge fund Qube Research & Technologies joined Circle Internet , Ripple SC Ventures, and Standard Chartered as investors in OKX's new funding round that valued the crypto exchange at $25B, the company said Tuesday.The capital raise was an extension from OKX's round in March, when NYSE parent Intercontinental Exchange invested about $200M into the exchange at the same valuation.The new capital gives OKX the resources to grow its existing crypto platform and expand into tokenization of real-world assets. On Sunday, OKICE, the joint venture between OKX and Intercontinental Exchange , to launch a tokenized securities platform that traded 24/7, initially starting with more than 60 U.S.-listed companies.The moves came after the SEC paved the way for the the trading of tokenized stocks by granting to tokenized securities venues for trading tokenized NMS stocks using permissioned automated market makers and liquidity pools."The exchange was our starting point, and we are evolving into a broader global financial technology platform," said Star Xu, founder and CEO of OKX. "We want to build the financial technology platform for the next generation, one that combines crypto technology with the standards people expect from global financial institutions."Content provided by Seeking Alpha is intended for information purposes only, and that Seeking Alpha does not offer any personalist investment advice and is not a licensed securities dealer, broker, US investment adviser or investment bank.