EDX Markets has raised $76 million in Series C funding to expand its institutional crypto trading business.
Summary
- EDX secured $76 million as institutional demand for regulated crypto trading infrastructure keeps drawing capital.
- SBI led the round while EDX expands spot trading, perpetual futures, clearing, and settlement services.
- Recent Ripple Prime integration shows EDX pushing deeper into institutional access and stablecoin-based collateral plans.
The digital asset technology firm said the round was led by Japan’s SBI Holdings. EDX plans to use the funding to grow its trading, clearing, and settlement services, build new products, and expand its global operations.
EDX operates an institutional-only crypto marketplace and a central clearinghouse. The company also runs a U.S.-focused spot exchange and a Singapore-based perpetual futures venue for eligible non-U.S. institutional clients.
SBI deepens digital asset strategy
SBI Holdings said the investment fits its wider push into regulated digital asset infrastructure. The Japanese financial group has been building across stablecoins, securities, banking, and crypto-related services.
EDX CEO Tony Acuña-Rohter said the firm was “pleased to welcome SBI as a strategic partner” as it expands its digital asset products. SBI Holdings Chairman and CEO Yoshitaka Kitao said EDX offers a “regulatory-compliant platform” for institutional digital asset infrastructure.
The EDX announcement also noted SBI’s work around JPYSC, a yen stablecoin backed by a Japanese trust bank. SBI has also handled U.S. dollar stablecoins, including RLUSD and USDC, as part of its digital asset ecosystem.
Institutional access keeps expanding
The funding follows recent product growth at EDX. In May, Ripple Prime integrated with EDX Markets and EDXM International to give institutional clients access to spot and perpetual futures liquidity through one prime brokerage framework.
Moreover, the Ripple Prime deal also placed RLUSD in a planned settlement and collateral role. The setup showed how institutional crypto firms are trying to connect trading venues, margin, and stablecoin-based settlement in one system.
EDX has also launched EDX FlowConnect, a crypto-as-a-service product that helps firms offer digital asset trading to customers. The company recently filed with the Office of the Comptroller of the Currency to form EDX Trust, a proposed national trust bank for custody, clearing, settlement, and risk management.
Crypto infrastructure still attracts capital
The EDX round comes as investors keep backing crypto infrastructure companies, even while broader venture activity remains below the 2021 peak. Trading systems, settlement networks, tokenized assets, and payment rails continue to draw capital from both crypto funds and traditional finance names.
As previously reported by crypto.news, Fomo raised $75 million in a Series B round at a $550 million valuation after processing $4 billion in volume. Digital Asset Holdings also raised $355 million in a16z-led funding for Canton Network, a blockchain built for financial institutions and tokenized assets.
The same trend has appeared in payments and settlement. As crypto.news reported, Binance was linked to a possible Mesh funding round at a valuation of up to $2 billion, while Coinbase and Standard Chartered expanded global crypto funding rails for institutional clients.