Cryptocurrency exchange OKX has secured a new round of investment from Ripple, Circle, quantitative investment management firm Qube Research & Technologies (QRT), and SC Ventures, the venture arm of Standard Chartered. This funding is an extension of a previous investment from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), with the latest pre-money valuation remaining at $25 billion.

OKX is seeking to transform from a digital asset trading platform into a global fintech platform encompassing cryptocurrencies, payments, and tokenized assets. Its joint venture with ICE submitted an application this week to launch tokenized stock trading under the U.S. Securities and Exchange Commission (SEC) framework, offering 24/7 trading services for tokenized stocks of 63 U.S. companies, utilizing OKX's X Layer blockchain and stablecoins such as USDC and USDT.