EDX Markets Secures $76M to Bridge TradFi and Digital Assets

CHICAGO, IL – July 07, 2026 – In a move that signals growing confidence in regulated digital asset infrastructure, EDX Markets has closed a $76 million Series C funding round. The investment, led by Japanese financial giant SBI Holdings, provides a significant capital injection for the institutional-only crypto marketplace as it aims to solidify the bridge between traditional finance and the burgeoning world of digital assets.

This latest funding round, which brings EDX's total capital raised to over $140 million in roughly a year, is earmarked for an ambitious expansion. The firm plans to enhance its trading, clearing, and settlement capabilities, accelerate the development of new products, and scale its global operations. The investment underscores a powerful market trend: as institutional players from hedge funds to asset managers deepen their engagement with cryptocurrencies, the demand for secure, transparent, and efficient market infrastructure has become paramount.

EDX was established with a mission to build a digital asset marketplace that mirrors the structure and standards of the world's most sophisticated stock exchanges. Founded in 2022 by a consortium of Wall Street heavyweights including Citadel Securities, Fidelity Digital Assets, and Charles Schwab, the company has consistently prioritized a model that resonates with institutional risk-management sensibilities.

"We're pleased to welcome SBI as a strategic partner as we continue to expand our suite of digital asset products and services," said Tony Acuña-Rohter, CEO of EDX Markets. "Their investment strengthens our ability to deliver the capabilities and market access that financial institutions need to engage with digital assets confidently and at scale."

Building the Institutional On-Ramp

At the core of EDX's appeal is its unique market structure. Unlike many retail-focused crypto exchanges that act as both broker and custodian, EDX operates a non-custodial trading venue. This means it never takes possession of customer assets. Instead, it partners with third-party custodians while its own clearinghouse, EDX Clearing, facilitates the settlement of trades. This separation of duties is a foundational principle in traditional finance, designed to mitigate counterparty risk—a critical concern that has kept many large institutions on the sidelines of the crypto market.

Since launching trading in mid-2023, EDX has demonstrated significant traction. By late 2025, the platform was reporting average daily trading volumes of approximately $200 million, a testament to the growing appetite for its structured approach. This growth is fueled by a commitment to institutional-grade technology. In 2024, the company migrated from its initial technology stack to a proprietary matching engine co-located in the Equinix NY4 data center, a move that places its infrastructure in the same high-performance environment used by major traditional exchanges.

This focus on familiar, high-performance infrastructure is a deliberate strategy to attract institutional clients by providing the deep liquidity, firm pricing, and low trading costs they expect. The firm's expansion of tradable assets, which now includes not only majors like Bitcoin and Ethereum but also a selection of other coins and support for USDC in settlement, further broadens its appeal.

The East-West Digital Asset Alliance

The leadership of SBI Holdings in this funding round is more than just a financial endorsement; it represents the formation of a powerful East-West strategic alliance. SBI is not a passive investor but one of Japan's most aggressive financial groups in the digital asset space. The Tokyo-based conglomerate is actively building a comprehensive ecosystem that spans exchanges, custody, and blockchain technology.

SBI's recent initiatives highlight its ambition. The group launched JPYSC, Japan's first trust bank-backed yen stablecoin, and is set to handle U.S. dollar-denominated stablecoins like RLUSD and USDC. Furthermore, SBI recently agreed to acquire crypto exchange Bitbank for approximately $289 million, bolstering its domestic market position. This investment in EDX extends its strategic footprint into the U.S. institutional market, creating a global corridor for regulated digital finance.

"EDX has built and provides a robust, regulatory-compliant platform that addresses the growing demand for institutional digital asset infrastructure," commented Yoshitaka Kitao, Representative Director, Chairman, and President of SBI Holdings. "We believe trusted market infrastructure will serve as a critical foundation for institutional adoption. We look forward to working closely with EDX to accelerate innovation, expand market access and help drive the broader use of digital assets globally."

The Regulatory Blueprint: EDX Trust and FlowConnect

Beyond its market structure, EDX is differentiating itself through a proactive regulatory strategy. Earlier this year, the firm took a significant step by filing an application with the Office of the Comptroller of the Currency (OCC) to establish EDX Trust. If approved, this proposed national trust bank would provide federally regulated digital asset custody, clearing, settlement, and risk management services.

Obtaining an OCC charter would be a landmark achievement, not just for EDX but for the entire industry. It would create a precedent for integrating digital asset services within the established U.S. banking framework, providing the regulatory certainty that large, conservative institutions require before committing significant capital. This move positions EDX at the forefront of the race to build fully compliant, end-to-end solutions for digital assets.

In parallel, EDX is scaling its technology through a new business line. In February 2026, it launched EDX FlowConnect™, a crypto-as-a-service offering. This white-label platform enables other financial firms to securely launch their own digital asset trading products using EDX's underlying infrastructure. This strategy allows EDX to embed its technology across the industry, expanding its reach and creating new revenue streams while promoting broader adoption of compliant trading solutions.

Navigating a Competitive Digital Frontier

EDX is entering an increasingly competitive field. It contends with established players like Coinbase Institutional and fellow TradFi-backed venture Fidelity Digital Assets, both of which offer a suite of services for institutional clients. However, EDX's distinct non-custodial model, its aggressive pursuit of a federal banking charter, and its backing by a powerful consortium of market makers and financial institutions give it a unique position.

By combining the discipline and risk-management principles of traditional finance with the innovation of digital assets, EDX is not just building another exchange. It is architecting a piece of critical market infrastructure designed to facilitate the next wave of institutional adoption. The $76 million in fresh capital, coupled with the strategic prowess of SBI Holdings, provides the fuel needed to execute this ambitious vision and cement its role in shaping the future of institutional finance.