EDX Markets, a Chicago-based institutional crypto trading platform, raised $76 million in a Series C funding round led by Japan's SBI Holdings, the company announced on July 7. SBI Holdings was the sole investor in the round, according to EDX Markets Chief Executive Tony Acuña-Rohter, as reported by The Block. The funds will support product development, global expansion and institutional market infrastructure as EDX competes to capture trading flows from banks, brokers, market makers and asset managers. EDX Markets operates an institutional-only digital asset trading venue alongside a central clearinghouse, originally backed by Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial. The investment deepens EDX's relationship with SBI Holdings, one of Japan's most active financial groups in digital assets, as institutional crypto venues compete for professional counterparty flows.
EDX Markets Secures $76 Million from SBI Holdings
The Series C round reflects continuing demand for regulated and institutionally oriented crypto market structure. EDX Markets focuses on professional counterparties and attempts to mirror parts of traditional financial-market infrastructure, including central clearing and post-trade settlement. The company's model separates trading from custody, avoiding conflicts that became a concern after the collapse of several vertically integrated crypto platforms.
The new funding is expected to support the company's regulatory ambitions. Reports said part of the capital will help EDX strengthen its clearing and settlement capabilities and support efforts tied to an OCC trust charter bid.
SBI Holdings Expands U.S. Institutional Crypto Presence
For SBI Holdings, the investment fits a broader strategy of building exposure to institutional digital asset infrastructure. The Japanese financial group has been active across crypto trading, tokenization, blockchain settlement and custody, and has made multiple investments in companies building regulated market rails.
The EDX investment gives SBI a stake in U.S.-linked institutional crypto infrastructure. It also provides a strategic partner for potential cross-border expansion as demand grows for compliant trading and settlement venues. For EDX, SBI's capital and financial-market network could help accelerate international growth. The company has been expanding connectivity through integrations with institutional trading and prime brokerage platforms, giving clients access to spot and perpetual futures liquidity across digital assets.
EDX Markets Operational Metrics and Regulatory Plans
EDX launched its clearinghouse in 2024. The company said at the time that members had traded more than $1.4 billion in notional volume in December 2023, while its clearinghouse had cleared more than $3.1 billion of transactions since launch in October. Market reports said the exchange had exceeded $36 billion in trading volume by late 2024, indicating adoption among professional market participants.
The funding does not directly affect crypto prices, but it signals that institutional investors continue to back regulated crypto infrastructure. The raise shows that institutional crypto market structure remains a major investment theme as banks, brokers and asset managers increase digital asset exposure.
FAQ
What did EDX Markets announce on July 7?
EDX Markets announced on July 7 that it raised $76 million in a Series C funding round led by SBI Holdings, with SBI Holdings as the sole investor according to CEO Tony Acuña-Rohter.
How much trading volume has EDX Markets processed?
EDX Markets members traded more than $1.4 billion in notional volume in December 2023, its clearinghouse cleared more than $3.1 billion of transactions since launch in October, and the exchange exceeded $36 billion in trading volume by late 2024.
Who are EDX Markets' original backers?
EDX Markets was originally backed by Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial.
