Observed Signal · Oct 6, 2026 · Funding · Source: Trending Topics (DACH/CEE Innovation & Tech) · Impact: 4/5 · Sentiment: Positive
OKX Raises $25B Valuation with Circle, Ripple, Standard Chartered
Crypto exchange OKX has closed a new funding round at a $25 billion valuation, with Circle, Ripple, Qube Research & Technologies (QRT), and SC Ventures (Standard Chartered's investment arm) joining as investors. The amount invested and equity stakes were not disclosed. The investors are all existing business partners of OKX: Circle issues USDC, Ripple's stablecoin RLUSD is integrated into OKX's order book, QRT provides liquidity, and Standard Chartered custodies BlackRock's BUIDL fund used as collateral. CEO Star Xu framed the round as strategically aligned rather than driven by financial need. The valuation matches the $25 billion from ICE's investment in March, and OKX is considering a US IPO within four years. The company also launched OKX Money to convert local currencies into dollar stablecoins for emerging markets.
The funding round demonstrates continued investor confidence in crypto infrastructure despite market downturns, with strategic investors like Circle and Standard Chartered indicating broader financial integration.
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Key Takeaways & Evidence Grounding
- OKX raised new funding at a $25 billion valuation (approx. €22.2 billion).
- New investors include Circle, Ripple, Qube Research & Technologies, and SC Ventures.
- The investment amount and equity stakes were not disclosed.
- The valuation matches the $25 billion from ICE's investment in March 2026.
- OKX is considering a US IPO within four years, according to Bloomberg.
Connected Companies & Entities
9 Entities mapped“Circle, the stablecoin issuer, invests in OKX....”
“Ripple, a blockchain company, invests in OKX....”
“Standard Chartered, the British bank, custodies BlackRock's BUIDL fund for OKX....”
“ICE, the NYSE parent, invested $200 million in OKX in March....”
“BlackRock's BUIDL fund is custodied by Standard Chartered for OKX institutional clients....”
“Coinbase, the publicly traded exchange, is valued at $49.7 billion, about twice OKX....”
“Crypto.com reached a $20 billion valuation with Citadel Securities....”
“Binance, the industry leader, has not published a current valuation....”
“Kraken, a US rival, was valued at $13.3 to $20 billion....”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
OKX launches AI agent marketplace for autonomous payments
Crypto exchange OKX has launched OKX AI, a marketplace that lets autonomous AI agents hire each other, settle payments using blockchain-based wallets and stablecoins, and build portable on-chain reputations. The marketplace opens to developers after a closed beta with about 50 early AI service providers and builds on OKX tooling that enables agents to hold digital wallets, make stablecoin payments, and maintain persistent identities. Early partners include CertiK, CoinAnk and GenLayer (which provides dispute-resolution infrastructure). OKX says the product targets developers and solo entrepreneurs and will be accessed via its Onchain OS toolkit; it also highlighted India as an important developer market. The launch follows a March investment of roughly $200 million from Intercontinental Exchange (ICE) that valued OKX at about $25 billion and signals OKX’s push to broaden beyond trading into agentic commerce and tokenized payments.
OKX Launches Pre-IPO Perpetuals and Tokenized Stocks in Europe
Cryptocurrency exchange OKX has launched two new product categories for European customers: pre-IPO markets via perpetual futures (X-Perps) and tokenized stocks. The pre-IPO markets initially feature OpenAI and Anthropic, allowing traders to speculate on their valuations with up to 10x leverage. Additionally, OKX offers about 100 tokenized stocks, including SpaceX, Google, Nvidia, and Palantir, tradable 24/7, usable as collateral, and withdrawable to self-custody wallets. The products are offered through OKX Europe Markets Ltd., licensed by Malta's MFSA. OKX CEO Erald Ghoos noted that pre-IPO markets were previously unavailable to most European traders and that X-Perps volume in Europe quadrupled since the MiCA transition period ended in July. Similar products exist from competitors like Binance, Hyperliquid, PreStocks, Kraken, and Coinbase. The instruments do not confer ownership rights and may diverge from actual valuations, as exemplified by Anthropic's perpetuals implying a $1.93 trillion valuation versus $965 billion in its Series H round.
NYSE Parent ICE and OKX Plan 24/7 Tokenized Stock Trading
Intercontinental Exchange (ICE), operator of the New York Stock Exchange, and crypto exchange OKX have announced plans for their joint venture OKXICE to launch a trading venue for tokenized U.S. stocks, operating 24/7. The venue will offer about 60 tokenized stocks, including Nvidia, Apple, Microsoft, Amazon, Tesla, JPMorgan Chase, Walmart, Coinbase, Robinhood, Circle, and SpaceX. Trading will occur on OKX's layer-2 network X Layer using Uniswap v4 permissioned liquidity pools, with settlement in stablecoins USDC, USDG, or USDT. Users will hold tokens in self-custody wallets, with underlying stocks held by tokenization providers. The move follows an SEC 'Innovation Exemption' allowing such venues to operate without registering as exchanges, subject to strict limits on volume and stock selection. ICE took a minority stake in OKX in March at a $25 billion valuation. Critics, including SIFMA and Better Markets, warn of market fragmentation and regulatory arbitrage.
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