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EDX Markets has closed a $76 million Series C funding round led by SBI Holdings, adding a major Japanese financial group to the digital asset market operator's shareholder base.
The new capital will fund the expansion of EDX's trading, clearing, and settlement operations, support product development, and help grow its international business. EDX operates an institutional-only digital asset trading venue alongside a central clearinghouse, positioning itself as a market infrastructure provider rather than a retail crypto platform.
The investment comes as established financial groups continue to test whether regulated digital asset services can attract more professional investors. That shift has pushed infrastructure providers to focus on familiar market structures, including post-trade services and risk controls similar to those used in traditional securities and derivatives markets.
Chief Executive Officer Tony Acuña-Rohter said SBI's involvement brings both capital and strategic backing as EDX pursues broader institutional adoption.
"We're pleased to welcome SBI as a strategic partner as we continue to expand our suite of digital asset products and services," said Tony Acuña-Rohter, Chief Executive Officer of EDX Markets.
"SBI brings deep expertise serving global financial institutions and has built one of the world's leading digital asset and financial services ecosystems. Their extensive global network and proven track record of driving growth for innovative businesses make them an ideal partner who shares our vision for advancing institutional participation in digital assets. Their investment strengthens our ability to deliver the capabilities and market access that financial institutions need to engage with digital assets confidently and at scale."
SBI's support also aligns with its broader push into digital assets and tokenised financial products. The group recently launched JPYSC, which EDX described as Japan's first trust bank-backed yen stablecoin, as part of a broader effort to expand regulated digital asset services.
Institutional focus
Unlike many crypto exchanges that target individual traders, EDX has focused on institutions from the outset. Its model centres on trading, central clearing and settlement, with an emphasis on a market structure that can meet the compliance and operational expectations of banks, brokers and asset managers.
That approach has drawn attention as financial institutions seek ways to enter the digital asset space without relying on retail-style venues. Central clearing, in particular, is widely seen as a way to reduce bilateral exposure and manage counterparty risk more closely.
EDX has also recently broadened its product set. Earlier this year, it launched EDX FlowConnect, which it described as a crypto-as-a-service product designed to help firms offer digital asset trading to their own customers.
The company has also applied to the Office of the Comptroller of the Currency to establish EDX Trust, a proposed national trust bank intended to provide digital asset custody, clearing, settlement and risk management services. If approved, that structure would give EDX another regulated foothold in the US market and extend its role across more of the trade lifecycle.
SBI strategy
For SBI, the investment adds to a portfolio that already spans banking, brokerage, asset management and digital assets. The Tokyo-based group has sought to build a broader financial ecosystem through acquisitions and strategic partnerships, with digital asset infrastructure becoming one of its main areas of expansion.
SBI said its work now includes yen- and US dollar-denominated stablecoin activity, suggesting it sees market plumbing as a necessary part of broader adoption. That view reflects a growing belief among financial institutions that custody, settlement and compliance frameworks may matter more to long-term growth than headline trading volumes alone.
Representative Director, Chairman and President Yoshitaka Kitao said SBI sees market infrastructure as central to institutional adoption.
"EDX has built and provides a robust, regulatory-compliant platform that addresses the growing demand for institutional digital asset infrastructure," said Yoshitaka Kitao, Representative Director, Chairman and President of SBI Holdings.
"As SBI Group continues to expand its digital asset ecosystem through initiatives such as the issuance of JPYSC, a yen-denominated stablecoin, and the domestic handling of U.S. dollar-denominated stablecoins including RLUSD and USDC, we believe trusted market infrastructure will serve as a critical foundation for institutional adoption. We look forward to working closely with EDX to accelerate innovation, expand market access and help drive the broader use of digital assets globally."
The funding round underscores continued investor interest in businesses that sit behind digital asset trading rather than directly in front of retail customers. At a time when crypto markets remain sensitive to regulation, firms that can offer clearing, settlement and custody within recognised financial frameworks are drawing support from investors with experience in mainstream financial services.
EDX continues to develop its infrastructure for institutional clients worldwide, with the latest funding set to support further expansion of its trading and post-trade services.