OKX has raised new funding at a $25 billion valuation, with participation from stablecoin giant Circle, fintech firm Ripple and SC Ventures, the investment arm of British bank Standard Chartered. The cryptocurrency exchange jointly filed with the Intercontinental Exchange to the SEC to launch a tokenized securities platform for around-the-clock trading of U.S. stocks. CEO Star Xu said the capital would help tokenize real-world assets, with the exchange evolving beyond its starting point into a broader global financial technology platform. Tokenization has become a major theme on Wall Street since the election of pro-crypto president Donald Trump, with the SEC approving tokenized stock trading in September.
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