EDX Markets Secures $76M to Expand Institutional Crypto Trading Services

EDX Markets, an institutional-focused crypto exchange operator, has secured $76 million in a Series C funding round led by Japan's SBI Holdings. The company plans to use the proceeds to expand its spot trading, clearing, and settlement offerings, introduce new products, and increase its international presence.

EDX operates both a US-based institutional spot venue and a Singapore-based perpetual futures platform designed for eligible non-US institutional clients. The exchange can process as much as $685 million in daily trading volume, according to EDX's announcement.

The funding momentum comes despite softer digital asset trading volumes and a still-cautious venture market versus 2021 levels. Backers already include major traditional finance names such as Citadel Securities, Fidelity Digital Assets, Virtu Financial, and Charles Schwab.