OKX said it will not rush into an initial public offering, emphasising it will only list when it can deliver consistent long-term shareholder value.
The crypto exchange was recently valued at $25 billion in a strategic deal involving Intercontinental Exchange, with executives saying the valuation was intentionally conservative.
The decision reflects concerns about weak post-IPO performance across the crypto sector, including volatility in publicly listed exchanges such as Coinbase.
“We will go public when we have confidence that we can give back shareholder value,”
Said OKX global managing partner, Haider Rafique.
Rafique warned that poor listings could damage the broader industry, noting that some crypto stocks have delivered negative returns since going public.
Instead, OKX is focusing on long-term growth through global expansion, deeper liquidity and investment in tokenised financial assets and blockchain infrastructure.
The company said its international footprint and unified order book provide a competitive edge as it builds toward a potential future listing.