EDX Markets Secures $76M from SBI Holdings in Institutional Crypto Funding Round
Vexoda Newsroom
Institutional crypto exchange EDX has raised $76 million led by SBI Holdings to expand its services and international growth, reflecting continued investor interest despite slower venture funding.
EDX Markets, a cryptocurrency exchange targeting institutional investors, recently secured $76 million in a Series C funding round from Japan’s SBI Holdings. This significant investment underscores the growing demand for robust crypto infrastructure as institutions increasingly embrace digital assets.
The funds will be used to expand EDX's spot trading and clearing services, develop new products, and further internationalize its operations. Currently, EDX operates an institutional-focused spot exchange in the U.S., complemented by a Singapore-based perpetual futures venue for non-U.S. clients with eligible access.
This round builds on previous backing from major financial firms such as Citadel Securities, Fidelity Digital Assets, Virtu Financial, and Charles Schwab. The continued support highlights investor confidence in institutional crypto infrastructure despite the broader digital asset sector experiencing slower venture funding growth during a bear market period.
Notably, EDX has seen substantial trading volumes, processing up to $685 million daily. This reflects increasing demand for dedicated cryptocurrency exchanges catering to professional and institutional traders. In May, Ripple Prime integrated with EDX, allowing clients access to its liquidity through the prime brokerage platform while supporting RLUSD as a settlement asset.
The funding round is indicative of broader trends in crypto infrastructure investment. As regulatory environments become more favorable, investors are increasingly backing companies that build trading platforms and payment solutions. San Francisco-based Framework Ventures recently raised $400 million for a new fund targeting frontier technologies including blockchain networks and decentralized finance (DeFi).
Other notable investments include Fomo, a cross-chain crypto trading platform raising $75 million at a valuation of $550 million, and Trace Finance, which secured $32 million to expand its stablecoin-based payment infrastructure. These developments suggest that institutional adoption is on the rise, driving demand for robust cryptocurrency exchanges.
For traders, this funding round signals potential growth opportunities in EDX's services and international expansion plans. Traders should monitor how these new resources are deployed and their impact on trading volumes and product offerings.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.