The cryptocurrency exchange OKX has attracted new investment from the quantitative hedge fund Qube Research & Technologies. This funding round also includes participation from existing backers, specifically Circle, Ripple, and SC Ventures, which is the venture arm of Standard Chartered.
The transaction maintains the valuation of the exchange at $25 billion. This round serves as an extension of the financing initiated in March, during which the Intercontinental Exchange invested $200 million. Following the announcement, the native OKB token experienced a 6% price increase, reaching $138.
OKX intends to utilize the new capital to enhance its market infrastructure. The exchange has not disclosed the specific amount of funds raised in this latest extension. The collaboration reflects a broader trend of traditional financial institutions deepening their involvement with digital asset platforms.
A key development resulting from the partnership with the Intercontinental Exchange is the creation of the joint venture OKXICE LLC. This entity is currently pursuing regulatory approval to facilitate the trading of tokenized stocks for 63 US public companies, including Apple, NVIDIA, and Coca-Cola.
The initiative operates under a five-year innovation exemption granted by the SEC. This regulatory framework permits the trading of tokenized equities within the United States, provided that these digital assets offer rights equivalent to those associated with traditional shares.
