EDX Markets has secured $76 million in a Series C round led by Japan’s SBI Holdings as it pushes to scale institutional crypto trading, clearing and settlement services.
The funding will bankroll product development, expand trading, clearing and settlement capabilities, and accelerate EDX’s global growth. The firm runs an institutional-only crypto marketplace and a central clearinghouse, plus a U.S.-focused spot exchange and a Singapore-based perpetual futures venue for eligible non-U.S. institutional clients.
Strategic partner: SBI
SBI — which has been building a regulated digital-asset ecosystem spanning stablecoins, securities, banking and crypto services — led the round as part of its broader push into regulated infrastructure. SBI has been involved with yen stablecoin JPYSC (backed by a Japanese trust bank) and has worked with U.S. dollar stablecoins including RLUSD and USDC. SBI’s chairman and CEO Yoshitaka Kitao praised EDX as a “regulatory-compliant platform” for institutional digital-asset infrastructure.
EDX momentum and product buildout
EDX has been expanding its product stack and integrations. In May, Ripple Prime integrated with EDX Markets and EDXM International, giving institutional clients unified access to spot and perpetual-futures liquidity through a single prime-brokerage framework — and positioning RLUSD for planned settlement and collateral use within that setup. EDX also launched FlowConnect, a crypto-as-a-service product that helps firms offer digital-asset trading to customers, and has filed with the U.S. Office of the Comptroller of the Currency to form EDX Trust, a proposed national trust bank for custody, clearing, settlement and risk management.
Leadership comments
EDX CEO Tony Acuña-Rohter said the firm was “pleased to welcome SBI as a strategic partner” as it expands digital-asset products and global operations.
Why it matters
The round highlights continued investor appetite for crypto infrastructure even as overall venture activity stays below the 2021 peak. Trading systems, settlement networks, tokenized-assets platforms and payment rails remain attractive to both crypto funds and traditional finance players. Recent comparable deals include Fomo’s $75 million Series B, Digital Asset’s $355 million raise for its Canton Network, and ongoing industry moves around payments and settlement such as potential Mesh funding tied to Binance and institutional rails work by Coinbase and Standard Chartered.
With SBI’s backing, EDX is positioning itself to knit together trading venues, collateral and stablecoin-based settlement for institutional clients — a core objective for firms trying to bring traditional financial workflows to crypto markets.
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