Ripple and Circle backs OKX as it targets the next wave of stablecoin users
OKX completed a strategic investment round with Circle, Ripple, Qube Research & Technologies and Standard Chartered’s SC Ventures, at an unchanged $25 billion pre-money valuation. The amount raised was not disclosed. The investors deepen OKX’s links across stablecoins, institutional liquidity, custody and payments. Alongside the fundraising, OKX launched OKX Money, an app for holding USDG, USDC or USDT, making transfers and spending through payment cards. It is initially available in selected markets, with features and rewards subject to eligibility. OKX says most of its target users have never used a crypto app and plans to expand the service gradually. The company aims to turn its crypto and financial infrastructure into consumer payment activity.
