EDX Markets raises $76 million in funding round led by SBI Holdings
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EDX Markets, an institutional cryptocurrency trading platform, said it raised $76 million in a Series C funding round led by SBI Holdings.
Key facts
Last month, SBI agreed to acquire crypto exchange Bitbank for 46.7 billion yen ($289 million), adding to its existing SBI VC Trade platform
Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B
EDX launched in 2023 with backing from Citadel Securities, Fidelity Digital Assets, Charles Schwab, Paradigm and Sequoia Capital
EDX Markets, an institutional cryptocurrency trading platform, said it raised $76 million in a Series C funding round led by SBI Holdings
Summary
EDX Markets, a crypto trading platform for institutions, raised $76 million in a fundraising round led by SBI Holdings to support product development and international growth. EDX’s model targets institutional clients by separating trading from custody through a central clearinghouse to minimize counterparty risk. The platform is expanding beyond spot trading with its "FlowConnect" product and has applied for a U.S. national trust bank charter. The company plans to use the funds to develop new products and grow internationally.