Institutional crypto exchange EDX Markets has completed a $76 million Series C financing round led by Japan’s SBI Holdings. The company said the proceeds will be used to improve trading, clearing, and settlement functions, while also supporting global expansion and product development.
$76 million round targets trading infrastructure upgrades
EDX Markets is built for institutional clients and uses a structure that combines a spot market with a Central Counterparty, or CCP, model. The company said this setup is intended to reduce bilateral counterparty risk exposure. According to the announcement, the $76 million Series C round led by Tokyo-listed SBI Holdings will go directly toward upgrades to its trading system, as well as its clearing and settlement framework.
EDX CEO Tony Acuña-Rohter said the company was pleased to become an SBI partner. He said SBI Holdings’ strategic investment and its resources across finance would help EDX Markets enter markets that meet international financial standards.
SBI points to regulated infrastructure for institutional adoption
SBI chairman and president Yoshitaka Kitao said EDX offers a platform that complies with regulatory requirements and addresses institutional demand for digital asset infrastructure.
Kitao said SBI Group is issuing the yen stablecoin JPYSC and is handling U.S. dollar stablecoins in Japan, including RLUSD and USDC. He said the group remains focused on regulated digital assets and believes trusted market infrastructure will be the primary factor behind institutional adoption.
EDX seeks approval for EDX Trust national trust bank
To broaden its institutional service offering, EDX Markets said it has applied to the U.S. Office of the Comptroller of the Currency, or OCC, to establish a national trust bank called EDX Trust.
If approved, EDX Trust would work alongside the platform’s existing central clearing model to provide regulated digital asset custody, clearing, settlement, and risk management services.
FlowConnect launched earlier this year
EDX Markets also said it launched EDX FlowConnect earlier this year as a Crypto-as-a-Service, or CaaS, product designed to help businesses offer digital asset trading to clients in a secure way.
The product is built on EDX Markets’ core infrastructure and combines an institution-only spot market with a central counterparty structure, which the company said reduces bilateral trading risk among participants.