SBI Holdings is leading EDX Markets’ Series C funding round, with EDX Markets announcing it has raised $75 million in the round to expand its institutional crypto trading infrastructure.
EDX Markets, a crypto exchange built for institutional participants, disclosed the raise on its newsroom. The company listed the round at $75 million, with SBI Holdings serving as lead investor. The slight discrepancy between the $75 million official figure and a widely circulated $76 million number appears to stem from rounding in secondary reporting. For related coverage, see Ethereum Foundation Says AI Found Real Protocol Bugs, but Human Review Still Matters.
EDX Markets operates as a non-custodial exchange, meaning it matches trades but does not hold customer assets directly. The platform was originally backed by Charles Schwab, Fidelity Digital Assets, and Citadel Securities, positioning it as an exchange designed to meet institutional compliance standards rather than compete directly with retail-focused venues. For related coverage, see Ripple Obtains Luxembourg License as US Classification Remains Unsettled.
Why SBI Holdings as Lead Investor Carries Weight
A lead investor in a Series C does more than write a check. The lead typically sets the valuation, negotiates terms, and signals confidence to other participants in the round. SBI Holdings, one of Japan’s largest financial conglomerates, brings both capital and distribution access across Asian markets.
SBI Group has steadily expanded its digital asset operations, including partnerships with Ripple and its own crypto exchange subsidiary. Its decision to anchor EDX Markets’ growth-stage raise suggests the firm sees long-term value in institutional-grade crypto trading venues that separate execution from custody.
A Series C round typically funds scaling rather than product development. For EDX Markets, that likely means expanding trading pairs, onboarding more institutional counterparties, or extending into new jurisdictions, though the announcement did not specify exact use-of-proceeds beyond general growth.
What This Signals for Institutional Crypto Infrastructure
The raise comes as institutional demand for regulated crypto market structure continues to grow. Wells Fargo recently increased its exposure to crypto-linked equities, and firms like Strategy continue to hold significant Bitcoin positions, underscoring that large financial players are building deeper crypto allocations.
EDX Markets sits in a specific niche: exchanges purpose-built for institutions that require segregated custody, regulatory transparency, and counterparty controls. The $75 million raise, led by a major Asian financial group, suggests this infrastructure layer is attracting capital even as some institutional holders rotate Bitcoin into other sectors.
The practical next steps to watch are whether EDX Markets announces new market participants, additional trading products, or geographic expansion following the close of this round. Those details will determine whether the Series C translates into meaningful competitive positioning against existing institutional venues.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
