Ripple Joins OKX Investment Round at $25 Billion Valuation

Summary

• Ripple joined Circle, Qube Research and Technologies, and SC Ventures in an OKX investment at a $25 billion pre-money valuation.
• OKX selected strategic investors to support its expansion beyond cryptocurrency trading into stablecoins, payments, institutional markets, and broader financial infrastructure.
• Ripple’s investment builds on RLUSD’s existing OKX integration and follows earlier backing for digital capital market businesses ZILO and Licuido.

Ripple has invested in OKX alongside Circle, Qube Research and Technologies, and Standard Chartered’s venture arm, SC Ventures. According to OKX’s Tuesday announcement, the investment values the cryptocurrency exchange at $25 billion before the capital.

OKX did not disclose the amount raised or provide individual contribution figures for any of the participating investors. The transaction extends a funding round led by Intercontinental Exchange, the parent company of the New York Stock Exchange.

ICE invested approximately $200 million in March, with OKX carrying the same $25 billion valuation during that transaction. Founder and chief executive Star Xu explained that OKX sought strategic partners rather than investors to address a funding shortage.

Xu identified stablecoins, payments, institutional markets, and financial infrastructure as the areas guiding the company’s choice of investors. Together, the participants bring experience across blockchain payments, stablecoin issuance, quantitative investing, and financial services to the exchange’s investor base.

OKX wants to develop a financial technology platform that connects cryptocurrency markets with traditional finance beyond its exchange operations. Xu described trading as the starting point for a broader business supporting how customers hold, spend, and invest assets.

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Ripple Investment Deepens Stablecoin and Institutional Market Ties

Ripple’s participation builds on an existing operational relationship, with its RLUSD stablecoin already available across OKX’s unified order book. Additionally, Ripple brings payments and liquidity infrastructure expertise to a funding extension involving companies active in several institutional market segments.

Jack McDonald, Ripple’s senior vice president of stablecoins, linked the investment to further cooperation across stablecoins, payments, and institutional markets. McDonald described large platforms such as OKX as important participants in the growing role of stablecoins within financial infrastructure.

Beyond the exchange investment, Ripple has backed businesses developing infrastructure for digital capital markets as part of its institutional expansion. In August, the blockchain company announced investments in ZILO and Licuido, adding two infrastructure businesses to its strategic investment activity.

Ripple’s backing adds another institutional relationship to OKX’s expansion plans, while the companies have not disclosed the transaction’s financial terms.

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