EDX Markets has closed a $76 million Series C round led by SBI Holdings, making the Tokyo-listed financial group a strategic investor in the institutional-only U.S. crypto venue. The capital will fund expansion of EDX’s trading, clearing and settlement capabilities. EDX has separately applied to the OCC to establish EDX Trust, a proposed national trust bank.
EDX Markets, an institutional-only crypto trading venue with its own central clearinghouse, closed a $76 million Series C funding round led by SBI Holdings, the firm said in a press release. The Tokyo-listed financial group becomes a strategic investor in the U.S. exchange.
That capital will fund expansion of EDX’s trading, clearing and settlement capabilities, along with product development and global operations, according to the release. In the announcement, EDX Markets CEO Tony Acuña-Rohter tied the round to institutional market access: “Their investment strengthens our ability to deliver the capabilities and market access”.
SBI builds out its digital asset ecosystem
SBI Holdings, a Tokyo-based financial group founded in 1999 that runs SBI Shinsei Bank and SBI Securities among other units, has been building out its own crypto infrastructure. The group recently launched JPYSC, described in the release as Japan’s first trust bank-backed yen stablecoin.
For its part, SBI chairman and president Yoshitaka Kitao pointed to that expanding ecosystem — the JPYSC issuance and the domestic handling of dollar-denominated stablecoins including RLUSD and USDC — and said the group believes trusted market infrastructure will serve as a critical foundation for institutional adoption.
EDX courts institutional clients through regulation
The Series C follows other recent EDX moves aimed at institutional clients. The firm filed an application with the Office of the Comptroller of the Currency to establish EDX Trust, a proposed national trust bank for regulated custody, clearing and settlement.
Earlier this year the venue also launched EDX FlowConnect, a crypto-as-a-service product letting firms build their own digital asset trading offerings, per the same release. EDX pairs its institution-only spot venue with a central clearinghouse designed to settle trades daily and limit bilateral counterparty exposure between members.
Source: EDX Markets
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