OKX has confirmed the completion of a strategic investment round involving Circle, Ripple, Qube Research & Technologies (QRT), and SC Ventures by Standard Chartered. The exchange maintained its pre-money valuation of $25 billion, which remains unchanged from a March transaction led by Intercontinental Exchange.
Concurrently, OKX launched OKX Money, a standalone application designed for savings, payments, and cross-border spending using dollar-backed stablecoins. The company aims to attract users who have never used crypto applications by minimizing visible blockchain infrastructure and offering features such as foreign-exchange fee-free purchases and yield on qualifying balances.
Key facts
- OKX completed a strategic investment round with Circle, Ripple, QRT, and SC Ventures by Standard Chartered.
- The exchange held its pre-money valuation at $25 billion, consistent with its March funding round.
- The new investors were selected for strategic fit in stablecoins, payments, and institutional markets rather than financial necessity.
- OKX launched the OKX Money app to allow users to save, send, and spend stablecoins like USDC, USDT, and USDG.
- The app targets consumers outside the existing crypto user base, with OKX stating roughly 70% of its target audience has never used a crypto application.
- Eligible customers can earn up to 10% annually on qualifying USDG balances and receive up to 10% cashback on card purchases.
Why it matters
The investment aligns OKX with key infrastructure providers in the stablecoin and institutional liquidity sectors, while the launch of OKX Money represents a direct commercial test of whether the exchange can convert its infrastructure advantages into everyday payment activity among non-crypto users.