EDX Markets raises $76M Series C led by SBI Holdings
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- EDX Markets raised $76 million in a Series C round led by Japan's SBI Holdings, one of the larger crypto-infrastructure funding rounds of the year, and will use proceeds to expand spot trading, clearing, settlement and international growth.
- EDX runs a US-focused institutional spot exchange and a Singapore-based perpetual futures venue for non-US institutional clients, and has hit as much as $685 million in daily trading volume.
- Previous backers of EDX include Citadel Securities, Fidelity Digital Assets, Virtu Financial and Charles Schwab, underscoring continued traditional-finance appetite for institutional crypto venues.
- Ripple Prime integrated with EDX in May, giving its prime brokerage clients access to EDX's spot and perpetual futures liquidity, with plans to support RLUSD as a settlement and collateral asset.
- Broader crypto-infrastructure funding remains active alongside the round: Framework Ventures raised $400 million for a new fund, Fomo raised $75 million at a $550 million valuation, and Trace Finance raised $32 million.
- The company framed the raise as evidence that institutional crypto infrastructure is attracting capital despite softer digital-asset trading volumes and venture funding still trailing the 2021 peak.
Why it matters: EDX now has fresh capital from a roster that includes SBI Holdings, Citadel Securities, Fidelity Digital Assets, Virtu Financial and Charles Schwab — a lineup that signals traditional finance is still willing to underwrite regulated crypto venues even as overall venture funding for the sector lags the 2021 peak. With $685 million in peak daily volume and a Ripple Prime distribution deal, EDX is positioning to be a primary settlement and trading layer for institutions entering the asset class.
