Cryptocurrency exchange OKX has raised an undisclosed sum of fresh capital at a $25 billion valuation, with backing from its existing partners and investors. The funding marks an extension of the investment round announced in March, which was led by the parent company of the New York Stock Exchange, keeping the valuation unchanged since March.

According to a Tuesday press announcement shared with Cointelegraph, the latest round saw participation from SC Ventures, the venture investment arm of London-headquartered banking group Standard Chartered; quantitative trading firm Qube Research & Technologies; blockchain payments company Ripple; and Circle, the issuer of the USDC stablecoin. The lineup spans banking, quantitative trading, blockchain payments, and stablecoin issuance. OKX declined to disclose the size of the investment.

In March, OKX raised $200 million at the same $25 billion valuation from Intercontinental Exchange (ICE), the operator of the New York Stock Exchange and one of the world's largest exchange groups.

The fresh funding will help OKX transition into a “broader global financial technology platform” that combines “crypto technology with the standards people expect from global financial institutions,” said Star Xu, founder and CEO of OKX.

The announcement arrives a day after a joint venture between OKX and ICE filed with the US Securities and Exchange Commission to launch a tokenized stock trading platform under the regulator's new innovation exemption.

OKX ranks among the world's largest cryptocurrency exchanges by trading volume. Related: OKX Ventures backs RWA stablecoin with Securitize, Hamilton Lane.

Source: Cointelegraph