March 5 (Reuters) - OKX, one of the world's largest cryptocurrency exchanges, was valued at $25 billion after it received a minority investment from Intercontinental Exchange, the NYSE parent said on
OKX Valuation Surges to $25 Billion Following ICE Investment Deal
Key Details of the OKX and ICE Strategic Partnership
March 5 (Reuters) - OKX, one of the world's largest cryptocurrency exchanges, was valued at $25 billion after it received a minority investment from Intercontinental Exchange, the NYSE parent said on Thursday.
The investment, which values OKX well above recent market entrants Bullish and Gemini, underscores how major Wall Street institutions are racing to develop digital-asset infrastructure as crypto evolves into a key segment of mainstream finance.
Highlights of the Investment Deal
ICE and OKX Collaboration Initiatives
- ICE will license OKX's spot crypto prices and launch U.S.-regulated futures contracts.
- OKX will become a distributor of ICE's U.S. futures and tokenized equities markets to more than 120 million people globally.
Recent ICE Investments and Industry Impact
- The investment follows ICE's recent stake in Polymarket, the world's largest prediction market.
- Analysts say the crypto industry may have reached an inflection point that could mark the end of the bear market after U.S. President Donald Trump signaled support for the Clarity Act bill on Tuesday.
Industry Perspectives and Future Outlook
- "There was a time window to get Clarity done. It's looking more and more challenging as time goes by and we get closer to midterms. Maybe we should have accepted the market structure bill and then pushed amendments later on," OKX Global Managing Partner Haider Rafique told Reuters.
- OKX rival Kraken's banking unit became the first U.S. digital-asset bank to gain access to the Federal Reserve's payments system through a limited-purpose account on Wednesday, marking a major win for an industry that has for years sought access to the Fed's trillions of dollars of payment rails.
- "I think it's very likely we will go in that direction in the future, and I hope it doesn't take us six years to do it," Rafique said.
- ICE, which was also an early investor in Coinbase, will get a seat on OKX board. The terms of the investment were not disclosed.
Reporting Credits
(Reporting by Ateev Bhandari and Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)
