$76M Funding Round Highlights Institutional Crypto Infrastructure Growth

EDX Markets, an institutional cryptocurrency exchange, has secured $76 million in a Series C funding round led by Japan's SBI Holdings. This significant investment underscores continued investor appetite for institutional crypto infrastructure, despite a slower venture funding market.

The latest round builds on previous backing from traditional financial companies, including Citadel Securities, Fidelity Digital Assets, Virtu Financial and Charles Schwab. EDX has been expanding its institutional footprint over the past year, with its US-focused exchange processing as much as $685 million in daily trading volume.

EDX will use the funds to expand its spot trading, clearing and settlement services, develop new products and grow internationally. The company operates a US-focused institutional spot exchange and a Singapore-based perpetual futures venue for eligible non-US institutional clients.