Morning Minute: OKX Raises at $25B From Circle, Ripple, and StanChart
OKX raised investment from Circle, Ripple, Standard Chartered’s venture arm, and Qube Research at a $25 billion pre-money valuation; the amount was not disclosed. The deal follows ICE’s investment at the same valuation. OKX is expanding beyond exchange services into a broader financial platform, including a planned ICE joint venture to trade tokenized shares of 63 U.S. companies around the clock, using OKX’s blockchain and stablecoin settlement. It also launched an app offering 10% returns on dollar stablecoins. The outlook for tokenized stocks remains uncertain: liquidity and regulatory questions may limit institutional participation, with early demand expected to come mainly from retail investors. The newsletter argues that OKX’s moves reflect a wider trend among major crypto exchanges toward tokenized stocks and integrated financial services.
