On Tuesday, crypto exchange OKX announced it has raised an undisclosed amount of new capital at a $25 billion valuation from existing partners and investors. The round follows a $200 million capital raise in March from Intercontinental Exchange (ICE).

SC Ventures, Qube Research, Ripple, and Circle Among Participants

According to the company, the new round included participation from Standard Chartered’s investment arm SC Ventures, Qube Research & Technologies, Ripple, and stablecoin issuer Circle. OKX did not disclose the size of the placement.

Funds to Support Development of OKX’s Fintech Platform

OKX founder and CEO Star Xu stated that the funding will be used to transform OKX into a broader global financial technology platform, combining crypto technologies with the standards expected from major financial institutions.

OKX and ICE Joint Venture Files SEC Application for Tokenized Stocks

Recently, the joint venture between OKX and ICE filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a platform for trading tokenized stocks under the regulator’s new innovation relief regime. The March round, to which the current raise relates, was also conducted at the same $25 billion valuation.