OKX Completes Funding at $25 Billion Valuation, Plans Tokenized Stocks

OKX has completed a funding round at a $25 billion valuation, adding institutional backers as the crypto exchange prepares a proposed U.S. platform for tokenized stocks.

Circle, Ripple, Standard Chartered’s SC Ventures and Qube Research & Technologies participated in the financing. The amount raised was not disclosed. The new capital will support OKX’s market infrastructure.

OKX has applied to the SEC to launch a tokenized-equities trading platform in the United States. Its joint venture with Intercontinental Exchange, the parent company of the New York Stock Exchange, is called OKXICE LLC.

The proposed service would initially offer tokenized shares tied to 63 companies listed on the New York Stock Exchange. Issuers would have 30 days to withdraw before trading begins, after which the platform would proceed with regulatory and compliance reviews.

The financing follows Intercontinental Exchange’s investment of about $200 million in OKX at the same $25 billion valuation in March. The proposed platform’s launch timing depends on the withdrawal period and completion of additional requirements.