A leading digital asset service provider, OKEX, has announced the successful closure of a multi-million dollar funding round. This significant investment underscores growing institutional confidence in the blockchain infrastructure sector.
The financing attracted a prestigious roster of investors. Notable participants include the investment arm of Giant Network Group, Qianhe Capital, and Longling Capital. Early-stage investor Ceyuan Ventures also joined this round, among others.
Behind the Investment Structure
Corporate registry filings reveal notable changes in the ownership of Beijing Oukai Lianchuang Network Technology Co., Ltd. Both Qianhe Capital and Giant Network Group have acquired stakes in the company, though the specific number of shares and the exact investment amounts remain undisclosed to the public.
Oukai Lianchuang holds a 100% ownership stake in Beijing Lekuda Network Technology Co., Ltd., the corporate entity historically associated with the OKCoin platform. This corporate structure highlights the strategic relationship between the various entities.
Further analysis of the investment web shows that Qianhe Hongding is a stakeholder in Shanghai Weiyi Investment. Qianhe Hongding itself was established with capital from Shanghai Xiheng Asset Management Co., Ltd. This connection ultimately ties the investment back to the renowned fund manager and his affiliated capital firms.
OKEX's Global Focus and Services
According to its official website, OKEX is an international company focused on the research, development, and application of blockchain technology and digital assets. The company is headquartered abroad and operates a major digital asset exchange.
This platform offers a comprehensive suite of services, including various fiat-to-crypto trading pairs, crypto-to-crypto trading, and sophisticated contract trading products. It provides users with access to a global liquidity pool for numerous digital assets.
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Distinction from OKCoin and Regulatory Compliance
It is crucial to distinguish OKEX from the former OKCoin platform. OKCoin was previously one of China's largest Bitcoin-to-fiat exchange platforms. The companies have always operated as completely independent entities with separate teams and management structures.
In response to regulatory developments within China, OKCoin completed the full return of customer assets and ceased exchange operations in October of last year. The company has since pivoted its business model, transforming into a pure blockchain technology development and research firm.
The rebranded technology company is now actively engaged in developing blockchain applications and is reported to be collaborating with several large financial enterprises on multiple projects, signaling a new chapter focused on enterprise-grade solutions.
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Frequently Asked Questions
What is the difference between OKEX and OKCoin?
OKEX and OKCoin are legally distinct companies with separate operational teams. OKEX is an international digital asset exchange, while OKCoin was a China-based trading platform that has now transitioned into a blockchain technology development company following regulatory changes.
Who are the major investors in this funding round?
The investment round saw participation from several prominent firms, including investment entities linked to Giant Network Group and Qianhe Capital. Early investor Ceyuan Ventures also increased its stake in the company.
What services does OKEX provide?
OKEX operates a digital asset exchange that offers a wide range of services. These include trading between various fiat currencies and cryptocurrencies, crypto-to-crypto trading pairs, and contract trading products for experienced users.
What happened to the original OKCoin platform?
The original OKCoin platform operating in China ceased all trading services and returned all customer assets in compliance with domestic regulations. The company has since reinvented itself as a blockchain research and development outfit.
What is the corporate relationship between Oukai Lianchuang and OKCoin?
Oukai Lianchuang Network Technology Co., Ltd. is the sole shareholder of Beijing Lekuda Network Technology Co., Ltd., which was the corporate entity behind the OKCoin platform. This makes Oukai Lianchuang the parent company.
What is the future focus of the OKCoin team?
The team formerly associated with the OKCoin exchange is now dedicated to advancing blockchain technology. Their work involves research, development, and the practical application of blockchain solutions, often in partnership with major financial institutions.