EDX Markets has raised $76 million in a Series C funding round led by Japan’s SBI Holdings, giving the institutional crypto platform fresh capital to expand its trading, clearing and settlement infrastructure.
The Chicago-based company announced the financing on July 7, saying the funds will support product development, global expansion and stronger institutional market infrastructure. The Block reported that SBI Holdings was the sole investor in the round, citing EDX Markets Chief Executive Tony Acuña-Rohter. The investment deepens EDX’s relationship with one of Japan’s most active financial groups in digital assets and comes as institutional crypto venues compete 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. The company was originally backed by several major financial firms, including Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial. Its model was designed to separate trading from custody, avoiding the conflicts that became a major concern after the collapse of several vertically integrated crypto platforms.
Institutional Infrastructure Gets Fresh Capital
The Series C round reflects continuing demand for regulated and institutionally oriented crypto market structure. Unlike many retail exchanges, EDX focuses on professional counterparties and attempts to mirror parts of traditional financial-market infrastructure, including central clearing and post-trade settlement.
That approach has become more important as crypto activity moves closer to mainstream finance. Spot Bitcoin and Ether ETFs, tokenized securities, stablecoin legislation and clearer regulatory frameworks have increased demand for venues that can support institutional execution without relying on offshore-style exchange models.
EDX launched its clearinghouse in 2024 and 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. More recent market reports said the exchange had exceeded $36 billion in trading volume by late 2024, indicating meaningful adoption among professional market participants.
The new funding is also 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. Such a charter could improve its ability to offer regulated custody, settlement or trust services, depending on the final scope of approval.
SBI Deepens Crypto Market Push
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 deeper stake in U.S.-linked institutional crypto infrastructure at a time when Japan, the United States and Europe are all moving toward more formal digital asset frameworks. 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 already been expanding connectivity through integrations with institutional trading and prime brokerage platforms, giving clients access to spot and perpetual futures liquidity across digital assets.
The market impact is strategic rather than immediate. The funding does not directly affect crypto prices, but it signals that institutional investors continue to back regulated crypto infrastructure even after a volatile first half of 2026. It also reinforces a broader trend: the next phase of crypto adoption is likely to depend less on retail exchange growth and more on clearing, custody, settlement and compliance systems that traditional financial institutions can use.
EDX’s $76 million raise shows that institutional crypto market structure remains a major investment theme. As banks, brokers and asset managers increase digital asset exposure, platforms that resemble traditional financial infrastructure may become more important than high-volume retail venues.
