TREE NEWS update: OKX has completed a funding round at a $25 billion valuation, with Qube Research & Technologies, Circle, Ripple and Standard Chartered’s SC Ventures participating, the exchange said at its OKX NOW conference on October 6. OKX also disclosed it has filed notice with ICE to launch a tokenized securities trading venue under the SEC’s innovation exemption, and unveiled OKX Money, a payment service live in more than 30 countries.
OKX Raises at $25B Valuation; Plans Tokenized Securities Venue With ICE
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AI take
The notable signal is not the valuation but the cap table: a bank venture arm, a stablecoin issuer and a payments-focused crypto firm backing an exchange that is simultaneously seeking a regulated tokenized-securities venue. That combination suggests distribution and settlement infrastructure, rather than trading volume, is where the competitive ground is shifting. Whether the SEC innovation exemption becomes a workable path for tokenized securities venues is the open question worth tracking.
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