Key Takeaways
- • SBI Holdings invested $76 million as sole investor in EDX Markets' Series C equity round, marking the first publicly disclosed funding amount for the institutional crypto trading platform since its 2022 founding.
- • EDX Markets operates an institutional-only digital asset trading venue with integrated clearing and settlement infrastructure, positioning itself to serve large financial institutions transitioning into crypto markets.
- • Previous backers include Charles Schwab, Citadel Securities, Fidelity Investments, Sequoia Capital, and Paradigm, though details of those earlier rounds remain confidential.
- • Proceeds will fund expansion of trading, clearing, and settlement capabilities, accelerate product development, and scale global operations with particular focus on Asia-Pacific growth alongside continued international expansion.
- • SBI Holdings' strategic value centers on its global reach, digital asset expertise, and commitment to regulated crypto infrastructure, aligning with EDX's mission to blend digital asset innovation with traditional finance risk management standards.
Summary
EDX Markets, an institutional-focused cryptocurrency trading platform, has closed a $76 million Series C funding round with Japan's SBI Holdings as the exclusive investor. This represents the first time the company has publicly disclosed a funding round size since its establishment in 2022. The investment takes the form of an equity round, though specific valuation and term details remain undisclosed, according to CEO Tony Acuña-Rohter speaking with The Block.
The platform operates a differentiated model in the crypto trading space by offering an institutional-only venue equipped with a central clearinghouse structure. This approach aims to replicate traditional market infrastructure within digital asset trading, combining the efficiency and innovation characteristics of blockchain technology with the transparency, risk management, and regulatory standards that established financial institutions expect. The company positions itself to capture the next wave of institutional adoption, particularly targeting large banks and sophisticated financial actors entering the digital asset space.
The capital infusion will support three primary strategic objectives: expanding EDX's trading, clearing, and settlement capabilities; accelerating product development roadmaps; and scaling global operations. Acuña-Rohter emphasized that the funding enables the company to "redouble" efforts in the Asia-Pacific region while maintaining growth momentum across other geographic markets. This geographic emphasis reflects SBI's global footprint and operational experience across multiple jurisdictions.
EDX's previous funding rounds attracted prominent institutional and venture capital backers including Charles Schwab, Citadel Securities, Fidelity Investments, Sequoia Capital, and Paradigm. However, those earlier rounds remained undisclosed in terms of size and specific terms. Acuña-Rohter cited confidentiality agreements when declining to discuss prior funding details. SBI Holdings' selection as sole Series C investor reflects the company's strengthening focus on regulated digital asset infrastructure, positioning it as a strategic partner aligned with EDX's institutional mandate and traditional finance integration objectives.
The platform operates a differentiated model in the crypto trading space by offering an institutional-only venue equipped with a central clearinghouse structure. This approach aims to replicate traditional market infrastructure within digital asset trading, combining the efficiency and innovation characteristics of blockchain technology with the transparency, risk management, and regulatory standards that established financial institutions expect. The company positions itself to capture the next wave of institutional adoption, particularly targeting large banks and sophisticated financial actors entering the digital asset space.
The capital infusion will support three primary strategic objectives: expanding EDX's trading, clearing, and settlement capabilities; accelerating product development roadmaps; and scaling global operations. Acuña-Rohter emphasized that the funding enables the company to "redouble" efforts in the Asia-Pacific region while maintaining growth momentum across other geographic markets. This geographic emphasis reflects SBI's global footprint and operational experience across multiple jurisdictions.
EDX's previous funding rounds attracted prominent institutional and venture capital backers including Charles Schwab, Citadel Securities, Fidelity Investments, Sequoia Capital, and Paradigm. However, those earlier rounds remained undisclosed in terms of size and specific terms. Acuña-Rohter cited confidentiality agreements when declining to discuss prior funding details. SBI Holdings' selection as sole Series C investor reflects the company's strengthening focus on regulated digital asset infrastructure, positioning it as a strategic partner aligned with EDX's institutional mandate and traditional finance integration objectives.
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