EDX Markets raises $76M Series C led by SBI Holdings
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- EDX Markets raised $76 million in a Series C funding round led by Japan's SBI Holdings, which The Block reports was the sole investor in the deal.
- EDX Markets said it will use the proceeds to expand spot trading, clearing and settlement services, develop new products and grow internationally across its US spot exchange and Singapore-based perpetual futures venue.
- EDX Markets is backed by Citadel Securities, Fidelity Digital Assets, Virtu Financial and Charles Schwab, and has processed as much as $685 million in daily trading volume.
- Ripple Prime integrated with EDX in May, giving institutional clients access to EDX spot and perpetual futures liquidity, with plans to support RLUSD as a settlement and collateral asset.
- Framework Ventures, Fomo ($75M at $550M valuation) and Trace Finance ($32M) recently raised their own rounds, underscoring continued venture appetite for crypto trading, payments and settlement infrastructure despite softer trading volumes.
- EDX Markets raised the capital even as digital asset trading volumes have softened and venture funding remains below the industry's 2021 peak.
Why it matters: SBI Holdings writing a $76M check solo — a Japanese financial conglomerate doubling down on a US-regulated venue — gives EDX a clean runway to court institutional flows while rivals like Coinbase Institutional compete for the same desks, and validates that serious TradFi money is still flowing into crypto rails despite the funding winter.
