Circle and SC Ventures Back OKX at $25 Billion Valuation
Crypto exchange OKX has secured additional backing from payments firm Circle and Standard Chartered’s SC Ventures in a financing round that values the company at $25 billion. Ripple and quantitative hedge fund QRT also participated in the extension, which follows a March fundraising led by Intercontinental Exchange (ICE), owner of the New York Stock Exchange; the total amount raised was not disclosed.
Why It Matters
The participation of major financial and crypto industry players — including a payments firm, a global bank's venture arm, and ICE — signals continued institutional interest in large crypto trading platforms and could influence the sector's consolidation and capital access. The undisclosed size of the extension leaves the precise financial impact unclear, but the $25 billion valuation marks a notable benchmark for exchange valuations.
Key Facts
- Company: OKX (cryptocurrency exchange)
- Valuation: $25 billion
- New investors: Circle; SC Ventures (Standard Chartered’s venture arm)
- Other participants: Ripple; QRT (quantitative hedge fund)
- Previous round: Extension of March fundraising backed by ICE (owner of the NYSE)
OKX has completed an extension to a fundraising round that values the crypto exchange at $25 billion, with new backing from payments firm Circle and SC Ventures, the venture arm of Standard Chartered. The financing also saw participation from blockchain company Ripple and quantitative hedge fund QRT. Company and investor statements did not disclose the total amount raised in the extension.
The new tranche follows a March funding round that was led by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. That March round established the groundwork for this follow-on investment, which brought additional institutional and crypto-industry participants into OKX’s cap table.
Investors named in the extension span both crypto-native firms and traditional finance entities, reflecting a mix of strategic and financial backers. Circle, known for its stablecoin business, and SC Ventures, Standard Chartered's innovation and venture unit, joined on the investor list alongside Ripple and QRT.
Details on how OKX plans to deploy the fresh capital were not provided and the exact size of the extension remains undisclosed. The financing does, however, set a clear valuation benchmark for the exchange sector by placing OKX at a $25 billion valuation.
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