Crypto exchange OKX announced it has completed a strategic investment round from Circle, Qube Research & Technologies, Ripple, and SC Ventures by Standard Chartered. CEO Star Xu confirmed on Oct. 6 that the investment maintains a $25 billion pre-money valuation, unchanged from a March round led by Intercontinental Exchange. The exchange did not disclose the amount raised in this latest transaction.

Xu stated the new investors were chosen for their strategic fit, aligning with OKX's long-term vision for stablecoins, payments, institutional markets, and financial infrastructure, rather than for additional financing needs. This move strengthens OKX's ties with companies providing infrastructure across its platform, including Circle (USDC issuer) and Ripple (RLUSD stablecoin).

Additionally, OKX launched "OKX Money" on Tuesday, a standalone app designed for consumers to save, send, and spend dollar-backed stablecoins. The app supports funding in over 50 currencies and allows users to hold USDG, USDC, or USDT, offering features like global transfers, virtual/physical cards, and up to 10% annual yield on qualifying USDG balances. OKX aims to reach users beyond crypto trading, with approximately 70% of its target market never having used a crypto application before.