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OKB 
USDG OKX completes a new round of financing at a valuation of US$25 billion
According to Bloomberg reported on Tuesday, cryptocurrency exchange OKX has received a new round of financing from Circle, Ripple, SC Ventures, the investment arm of Standard Chartered Bank, and hedge fund Qube Research & Technologies, with the company's valuation reaching US$25 billion.
This round of financing is a continuation of the financing in March this year. At the time, Intercontinental Exchange invested approximately US$200 million in OKX at the same valuation, but OKX did not disclose the specific amount raised. Xu Mingxing, co-founder and CEO of OKX, said that the centralized exchange (CEX) is not short of money.
"We raised money not because we needed capital, but because we chose to work with our strategic partners with long-term visions in stablecoins, payments, institutional markets and next-generation financial infrastructure." Xu Mingxing wrote on X (formerly Twitter).
The investor lineup behind the US$25 billion valuation
OKX said in a press release that Circle Internet Group, Ripple, SC Ventures and hedge fund Qube Research & Technologies all participated in the round of investment. The company declined to disclose the specific financing amount.
Intercontinental Exchange Group said in a statement at the time that it would occupy a seat on OKX's board of directors as part of its March investment.
OKX accelerates stablecoin and tokenized stock business
The financing follows OKX's recent release of new products and regulatory documents. The exchange has launched a currency application for emerging market stablecoin users that converts local currencies into U.S. dollar stablecoins, including USDC and USDG.
In addition, OKX's joint venture with Intercontinental Exchange Group has filed an application to trade 63 tokenized U.S. stocks around the clock.
As of press time, OKB was trading at approximately US$135.92, up approximately 8% in the past 24 hours, according to CoinMarketCap data.
