Series C capital targets institutional trading and post-trade expansion
EDX Markets announced on July 7 that it has closed a $76 million Series C funding round led by SBI Holdings. The Chicago-based company describes itself as a digital asset technology firm that combines an institution-only trading venue with a central clearinghouse, positioning its platform around the needs of professional and institutional participants in crypto markets.
According to the company, the proceeds will be used to support continued growth across several areas: expanding trading, clearing, and settlement capabilities, accelerating product development, and scaling global operations. EDX said rising institutional participation in digital assets is driving stronger demand for secure and efficient market infrastructure that can pair crypto-native innovation with the resilience, transparency, and risk management standards associated with traditional financial markets.
CEO Tony Acuña-Rohter said SBI joins EDX as a strategic partner at a time when the company is broadening its suite of digital asset products and services. He said SBI brings deep experience serving global financial institutions and has built one of the world’s leading digital asset and financial services ecosystems, making it a strong fit for EDX’s long-term push to expand institutional access to digital assets at scale.
SBI extends its regulated digital asset strategy
The investment also aligns with SBI Holdings’ wider effort to build regulated digital asset infrastructure. In the announcement, EDX noted that SBI Group recently launched JPYSC, which it described as Japan’s first trust bank-backed yen stablecoin. The move adds to SBI’s growing roster of digital asset products and reinforces the group’s focus on regulated financial services.
Yoshitaka Kitao, Representative Director, Chairman, and President of SBI Holdings, said EDX has built a robust and regulatory-compliant platform that addresses rising institutional demand for digital asset infrastructure. He added that SBI Group is continuing to expand its digital asset ecosystem through initiatives such as JPYSC, as well as domestic handling of U.S. dollar-denominated stablecoins including RLUSD and USDC.
Kitao said trusted market infrastructure will be a critical foundation for institutional adoption. He said SBI expects to work closely with EDX to accelerate innovation, expand market access, and help drive broader use of digital assets globally.
FlowConnect launch and OCC filing signal broader service ambitions
Beyond the financing update, EDX highlighted two recent strategic developments. Earlier this year, the company launched EDX FlowConnect™, a crypto-as-a-service offering designed to enable firms to securely launch digital asset trading products for their own customers. The rollout suggests EDX is not only building infrastructure for direct institutional participants, but also packaging that infrastructure for distribution through other firms.
EDX also recently filed an application with the U.S. Office of the Comptroller of the Currency, or OCC, to establish EDX Trust. The proposed national trust bank is intended to provide regulated digital asset custody, clearing, settlement, and risk management services. If approved, that structure would broaden EDX’s role beyond trading and clearing into a more complete institutional service stack.
Platform positioning and client scope
EDX said its flagship marketplace, EDX Markets, is designed to emulate the world’s most sophisticated exchanges, with an emphasis on deep liquidity, firm prices, and low trading costs. The company said it has structured its business to minimize risk for members while also improving operational and capital efficiency.
The company’s disclaimer states that EDX Markets products are available only to institutions in the United States and certain other jurisdictions, and that the communication is directed solely at investment professionals with relevant experience. SBI Holdings, meanwhile, is a Tokyo-based comprehensive financial group founded in 1999 and listed on the Tokyo Stock Exchange. Through units spanning banking, securities, asset management, and insurance, it has built a broad internet-based financial ecosystem, while also expanding into digital assets, biotechnology, and media. SBI announced a capital and business alliance with Sumitomo Mitsui Financial Group in 2022 and followed that with a similar partnership with NTT Group in 2025.