OKX adds Circle and Ripple as investors to push stablecoin payments

OKX is making a big move. The exchange is betting that stablecoin payments, not just trading, will drive the next wave of crypto adoption. To back this up, OKX has added Circle, Ripple, Qube Research & Technologies (QRT), and SC Ventures to its investor list. The company keeps its valuation at $25 billion and is now targeting everyday users with a new payments app.

Strategic investors, not just capital

OKX did not bring in these investors because it needed more money. The company picked them for their fit with its plans in stablecoins, payments, and financial infrastructure. OKX says this latest round did not push its valuation above the $25 billion set in March, when Intercontinental Exchange led a $200 million round. Instead, OKX wanted to build closer ties with firms already active in stablecoin issuance, institutional liquidity, and tokenized assets.

Circle, which issues USDC, is already built into OKX's platform. Ripple's RLUSD stablecoin is available through OKX's unified order book. QRT is a major institutional liquidity provider. SC Ventures, the venture arm of Standard Chartered, connects OKX to traditional finance as custodian for BlackRock's BUIDL tokenized Treasury fund. These links are meant to give OKX an edge as it moves beyond its core exchange business.

OKX Money aims for new users

The new Money app is a standalone product. It is built for people who have never used crypto before. OKX says about 70% of its target users for Money are first-timers. The app lets customers in supported markets save, send, and spend dollar-backed stablecoins like USDG, USDC, or USDT. It supports more than 50 funding currencies. Users get global transfers, virtual or physical cards, and no foreign-exchange fees or conversion markups when buying in other currencies. Eligible users can earn up to 10% a year on qualifying USDG balances, with no staking or lockups. There is also a loyalty program with up to 10% cashback on eligible card purchases. Terms and availability depend on the market and user eligibility.

OKX is starting in places where currency swings, limited banking, or high foreign-exchange costs make stablecoin payments attractive. The company plans to roll out the Money app step by step, not all at once in every one of the 30+ jurisdictions where it operates under regulatory rules. OKX describes Money as a tool for sending, spending, and saving in dollar stablecoins. The company has not shared the full list of supported regions or user numbers. This approach matches a wider trend in stablecoins, where exchanges, issuers, and financial firms are all trying to win users who want dollar exposure and cross-border payments without the hassle of trading crypto.

Building bridges between crypto and traditional finance

By bringing in Circle, Ripple, QRT, and SC Ventures, OKX is putting itself at the meeting point of crypto and traditional finance. These new investors are not just passive backers. Their businesses overlap with OKX's push into stablecoins, payments, and tokenized assets. For example, Standard Chartered's custody of BlackRock's BUIDL tokenized Treasury fund is now part of an institutional collateral system built with OKX. QRT adds institutional trading depth. Circle and Ripple want to see their stablecoins used more widely through OKX's growing payment rails.

Circle CEO Jeremy Allaire says that bringing USDC into OKX shows how regulated dollar infrastructure is merging with a major on-chain trading platform. The new investors each bring something to the table: Circle supplies USDC infrastructure, QRT brings institutional liquidity and venture capital, Ripple adds payment and stablecoin tech, and Standard Chartered acts as custodian for tokenized treasury assets. For more on how stablecoin rules are changing, see this CoinDesk regulatory analysis.

Risks and what's at stake

OKX's move into consumer payments is a big shift from its main exchange business. Turning a large crypto user base and tech advantage into daily financial activity will take new distribution, compliance, and customer support. OKX will have to prove it can make blockchain invisible and deliver reliable, low-cost payments to people who have never used crypto. For the new investors, the goals are clear: Circle and Ripple want their stablecoins used outside trading, QRT wants deeper institutional markets, and Standard Chartered is growing its digital-asset infrastructure. OKX now has to show that these partnerships can drive real payment volumes and user growth beyond trading.

OKX's $25 billion pre-money valuation is unchanged from the March round led by Intercontinental Exchange. The company has not said how much was raised in this latest deal. The Money app supports USDG, USDC, and USDT, and users can fund accounts in over 50 currencies. The app advertises up to 10% annual yield and 10% cashback on eligible purchases, but these rates and features depend on the market and user eligibility. OKX operates in more than 30 jurisdictions under different regulatory rules, but the Money app is rolling out gradually, not everywhere at once.

Stablecoins are built to keep a fixed value, usually tied to the U.S. dollar, by holding reserves in cash or short-term securities. They let people move money quickly and avoid currency swings, but they are not risk-free. Users should know that redemption rules, geographic limits, and how reserves are managed can affect access to funds or stablecoin value. Regulators are watching stablecoin issuers and distributors more closely, especially as these products move into payments and consumer finance. As stablecoin use grows, the way crypto platforms and traditional financial firms work together will shape how digital dollars are used, regulated, and trusted.