EDX raises $76M from SBI Holdings
- Institutional cryptocurrency exchange EDX Markets raised US$76 million in a Series C funding round led by SBI Holdings.
- The company will use the funding to expand its trading, clearing and settlement services while growing internationally.
- The investment reflects continued institutional backing for cryptocurrency market infrastructure despite slower venture funding across the sector.
EDX Markets raised US$76 million in a Series C funding round led by SBI Holdings to expand its institutional cryptocurrency trading platform and accelerate international growth.
The exchange said it will invest the proceeds in expanding its spot trading, clearing and settlement services, developing new products and growing its operations outside the United States through its Singapore-based perpetual futures platform.
The funding builds on backing from Citadel Securities, Fidelity Digital Assets, Virtu Financial and Charles Schwab, while EDX said it has processed daily trading volumes of up to US$685 million.
The investment highlights continued demand for institutional cryptocurrency infrastructure, and following the announcement there was no public share price reaction because EDX Markets is privately held.
EDX expanded its institutional offering in May through an integration with Ripple Prime, allowing clients to access the exchange's spot and perpetual futures liquidity while planning support for RLUSD as a settlement and collateral asset.
The funding comes as investors continue backing cryptocurrency infrastructure companies, with Framework Ventures recently raising a US$400 million fund, Fomo securing US$75 million and Trace Finance raising US$32 million despite slower venture investment across the digital asset sector.
