Key Takeaways
- • OKX extends funding round at $25 billion pre-money valuation, broadening investor base beyond initial ICE partnership to include Circle, Qube Research & Technologies (QRT), Ripple, and SC Ventures.
- • ICE (NYSE parent) invested approximately $200 million in OKX as part of OKXICE joint venture, a 50-50 partnership enabling 24/7 trading of tokenized US securities starting with 60 top-traded stocks.
- • Tokenized securities will launch under SEC's new Innovation Exemption framework, positioning OKX at the intersection of digital asset infrastructure and traditional capital markets.
- • New investor group brings complementary digital asset capabilities: Circle (USDC stablecoin), QRT (institutional liquidity), Ripple (payments and stablecoin infrastructure), and SC Ventures (custody services for tokenized Treasury products).
- • Extended funding round signals continued institutional appetite for regulated crypto infrastructure and demonstrates OKX's role in bridging traditional finance and blockchain-based trading infrastructure.
Summary
OKX has extended its funding round at a $25 billion pre-money valuation, expanding its investor syndicate beyond the previously announced ICE partnership. The extended round adds Circle, Qube Research & Technologies (QRT), Ripple, and SC Ventures as new investors alongside ICE, the parent company of the New York Stock Exchange.
The capital raise is anchored by ICE's approximately $200 million investment in OKX, formed through a 50-50 joint venture called OKXICE. This partnership aims to enable 24/7 trading of tokenized versions of top US-traded securities, launching initially with 60 of the most actively traded stocks. The tokenization will operate under the SEC's new Innovation Exemption, providing regulatory clarity for the emerging market structure.
Each new investor brings specialized capabilities to the ecosystem. Circle serves as issuer of USDC, the world's largest regulated stablecoin, providing payment and settlement infrastructure. Qube Research & Technologies, a major institutional counterparty to OKX, contributes liquidity and risk management at scale. Ripple contributes payments, liquidity, and stablecoin infrastructure expertise, including its RLUSD stablecoin integrated into OKX's unified order book. SC Ventures serves as custodian for BUIDL, the tokenized Treasury fund co-developed by OKX and BlackRock, anchoring the collateral framework for the new marketplace.
OKX characterized the extended funding round as evidence of deeper institutional collaboration in financial markets digitalization. The company stated its vision explicitly: "Our goal is to help shape the next chapter of financial markets, where digital and traditional infrastructure work together to expand access, strengthen trust, and support innovation across the global economy." The extended round underscores growing institutional confidence in regulated crypto infrastructure and the convergence of traditional capital markets with blockchain-based trading systems.
The capital raise is anchored by ICE's approximately $200 million investment in OKX, formed through a 50-50 joint venture called OKXICE. This partnership aims to enable 24/7 trading of tokenized versions of top US-traded securities, launching initially with 60 of the most actively traded stocks. The tokenization will operate under the SEC's new Innovation Exemption, providing regulatory clarity for the emerging market structure.
Each new investor brings specialized capabilities to the ecosystem. Circle serves as issuer of USDC, the world's largest regulated stablecoin, providing payment and settlement infrastructure. Qube Research & Technologies, a major institutional counterparty to OKX, contributes liquidity and risk management at scale. Ripple contributes payments, liquidity, and stablecoin infrastructure expertise, including its RLUSD stablecoin integrated into OKX's unified order book. SC Ventures serves as custodian for BUIDL, the tokenized Treasury fund co-developed by OKX and BlackRock, anchoring the collateral framework for the new marketplace.
OKX characterized the extended funding round as evidence of deeper institutional collaboration in financial markets digitalization. The company stated its vision explicitly: "Our goal is to help shape the next chapter of financial markets, where digital and traditional infrastructure work together to expand access, strengthen trust, and support innovation across the global economy." The extended round underscores growing institutional confidence in regulated crypto infrastructure and the convergence of traditional capital markets with blockchain-based trading systems.
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