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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 18 sources · 9 days · First seen 29 days ago · Last updated 20 days ago

OKX financial service and stablecoin expansion

Overview

OKX has expanded its financial services through new security features, promotional incentives, and the launch of a dedicated application.

Initially, the platform introduced ‘OKX Shield’ for verified individual clients in the European Economic Area, providing reimbursement for unauthorized withdrawals caused by phishing or malware. This was accompanied by registration and deposit bonuses.

Subsequently, the company launched OKX Money, a standalone application focused on stablecoin savings and spending. The app allows users to convert over 50 local currencies into dollar-pegged stablecoins, such as USDG, USDC, and USDT, with no conversion fees. It offers up to 10% annual percentage yield on certain balances and includes a card for global spending with cashback. The rollout targets markets in Latin America, Africa, South Asia, and the Middle East to assist populations dealing with currency fluctuations.

On October 6, OKX announced it had secured strategic investment from several prominent financial and digital asset firms, including Circle, Ripple, SC Ventures, and Qube Research & Technologies. This funding round, which extends an earlier process involving Intercontinental Exchange (ICE), maintains OKX’s pre-money valuation at $25 billion. The company plans to utilize this capital to strengthen market infrastructure and expand its presence in stablecoins, payments, and the tokenization of real-world assets.

Entities

OKX · Fortuneo · Ripple · Circle · Standard Chartered

Claims

What the coverage asserts, and how many sources carry each claim.

[● 9 SOURCES] OKX secured a strategic investment at a $25 billion pre-money valuation from Circle, Ripple, Qube Research & Technologies (QRT), and SC Ventures.
[● 9 SOURCES] The new funding round is an extension of a March investment by Intercontinental Exchange (ICE) at the same $25 billion valuation.
[● 5 SOURCES] OKX launched OKX Money, a standalone app for stablecoin savings, transfers, and payments.
[● 5 SOURCES] Eligible USDG balances in the OKX Money app can earn up to 10% APY.
[● 5 SOURCES] The OKX Money app supports funding in more than 50 currencies.
[● 4 SOURCES] CEO Star Xu stated the company is evolving from a crypto exchange into a broader global financial technology platform.
[● 4 SOURCES] OKX Money provides virtual and physical Mastercard-linked cards for spending.
[● 3 SOURCES] The OKXICE joint venture has applied to the SEC to offer tokenized trading of 63 U.S. public companies.

Timeline

20 days ago

[BUSINESS] 16 sources
OKX secures strategic investment at $25B valuation from Circle and Ripple
OKX has secured strategic investment at a $25 billion valuation from Circle, Ripple, and Standard Chartered, while also launching OKX Money, a standalone app for stablecoin savings and global payments.
29 days ago

[BUSINESS] 2 sources
Fortuneo and OKX announce new financial promotions and security features
Fortuneo is offering a 5% promotional interest rate on its Livret + for new accounts, while OKX introduces USDT deposit bonuses and the ‘OKX Shield’ security reimbursement program.

Sources

bitcoinmagazine.com · bitcoinworld.co.in · blockchainreporter.net · blogtienao.com · cointribune.com · crypto-insiders.nl · crypto.news · cryptoninjas.net · en.bitcoinsistemi.com · en.dailypakistan.com.pk · fxdailyreport.com · journalducoin.com · moneyvox.fr · mrnews.fr · nosmokesport.com · phocapblockchain.net · spacemoney.com.br · tokenpost.kr

This summary has been updated 1 time: see revision history