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XRP 
RLUSD Ripple participates in OKX's US$25 billion valuation financing round, Brevan Howard deepens cooperation
Ripple has joined a financing round of cryptocurrency exchange OKX, which brought OKX's valuation to US$25 billion. At the same time, Brevan Howard, a well-known Wall Street institution that funded Ripple last year, is deepening its relationship with the company as a client.
What is the scale of Ripple's investment in OKX?
OKX raised new funds from stablecoin issuers, a British bank and a London quantitative trading firm, with a valuation of US$25 billion. Circle, Ripple and Standard Chartered Bank's investment arm SC Ventures all participated in the investment, as well as Qube Research & Technologies (QRT)-the first time the company has appeared on OKX's shareholder register. OKX did not disclose the specific amount of this round of financing.
As early as March this year, Intercontinental Exchange Group (ICE), which owns the New York Stock Exchange, invested approximately US$200 million in OKX at the same US$25 billion valuation. Seven months later, the valuation remained unchanged. Haider Rafique, OKX's global managing partner, said the financing was aimed at "strengthening OKX's long-term market infrastructure."
ICE is also OKX's partner in larger projects. On October 5, OKXICE LLC, a joint venture between the two parties, announced that it was seeking approval to sell tokenized shares of 63 U.S. listed companies, including Nvidia, Apple and Coca-Cola. The plan relies on a new SEC rule called the "Innovation Waiver" introduced in September. The new rule was introduced after the Clarity Act was blocked in the Senate. The rule allows approved platforms to trade tokenized U.S. stocks on public blockchain without having to register as a full stock exchange for up to five years. However, the rules require that these tokens have the same rights as actual shares, including dividend rights and voting rights.
Does Ripple turn investors into customers?
It is worth noting that Brevan Howard, now a client of Ripple, was one of the backers in Ripple's $500 million financing round in November 2025. That round valued Ripple at $40 billion, led by funds linked to Fortress Investment Group and Citadel Securities. Pantera Capital, Galaxy Digital and Marshall Wace also participated in the investment.
Ripple is able to sell products to its investors partly because of its heavy investment in product development. Ripple Prime is a master broker services business arising from Ripple's $1.25 billion acquisition of Hidden Road completed in October 2025. It provides one-stop services covering diversified services such as trading, clearing and financing of currencies, derivatives, bonds and digital assets.
In May 2026, Ripple Prime received a $200 million credit line from Neuberger Specialty Finance to expand its margin lending business. According to reports, since its launch in the United States, its annual revenue has tripled year-on-year. Ripple President Monica Long said last year that the company's number of customers in stablecoin payments has doubled every quarter, and the market value of its RLUSD stablecoin has just exceeded the US$1 billion mark.
