EDX Markets Snags $76M Series C Funding from SBI Holdings

EDX Markets, an institutional crypto trading platform backed by major Wall Street players, has secured $76 million in Series C funding from Japan's SBI Holdings. The deal marks a significant cross-border bet on crypto infrastructure and demonstrates EDX's growing influence in the industry.

The fresh capital will be used to enhance EDX's trading, clearing, and settlement capabilities, as well as support the development of its FlowConnect product, which allows financial institutions to plug into digital asset trading without building everything from scratch.

EDX has also applied for a national trust bank charter, which would give it a regulatory footprint that most crypto-native platforms can only dream about. This move is part of EDX's strategy to establish itself as a major player in the institutional crypto market.

SBI Holdings' investment gives the company a strategic bridge into the US institutional crypto market without having to build it themselves. The deal is also seen as a vote of confidence in EDX's technology and its ability to meet the standards of traditional financial institutions.