EDX Markets, an institutional-only crypto trading platform, closed a $76 million Series C funding round. SBI Holdings, a Tokyo-listed financial group, led the investment and becomes a strategic partner in the U.S. exchange.
The capital will directly support EDX Markets' plans to expand its trading, clearing and settlement capabilities, along with product development and global operations, according to the firm.
EDX Markets CEO Tony Acuña-Rohter said the investment strengthens the firm's ability to deliver the market access financial institutions require, and that institutions need to engage with digital assets at scale.
SBI Holdings operates a financial group that includes SBI Shinsei Bank and SBI Securities. The group has built its own crypto infrastructure, including the recent launch of JPYSC, described as Japan's first trust bank-backed yen stablecoin. SBI also distributes U.S. dollar-denominated stablecoins, including RLUSD and USDC, within Japan.
Yoshitaka Kitao, SBI Holdings chairman and president, said trusted market infrastructure serves as a critical foundation for institutional adoption, connecting that view to SBI's ongoing stablecoin initiatives.
The Series C follows several strategic moves by EDX Markets to attract institutional clients. The firm previously filed an application with the Office of the Comptroller of the Currency seeking to establish EDX Trust, a proposed national trust bank that would provide regulated custody, clearing and settlement services for digital assets.
EDX Markets also launched EDX FlowConnect, a crypto-as-a-service product that enables other firms to build their own digital asset trading offerings.
EDX Markets operates an institution-only spot venue paired with a central clearinghouse that settles trades daily and reduces bilateral counterparty exposure among its members.
