MV Capital - EDX Markets Secures $76 Million in Series C Funding Led by SBI Holdings

EDX Markets, an institutional cryptocurrency trading platform, closed a $76 million Series C round with SBI Holdings as the sole investor. The capital supports expansion of trading infrastructure, new product development, and global operations as the firm advances its regulatory initiatives

Funding Details and Strategic Goals

EDX Markets announced the completion of its $76 million Series C funding round. SBI Holdings led the round as the only participant. The company intends to direct the proceeds toward strengthening its core operations in trading, clearing, and settlement services.

Additional priorities include accelerating product development and increasing its presence in international markets. The platform maintains a focus on serving institutional participants through a structure that keeps trading separate from custody via a central clearinghouse.

Key Elements of the Raise$76 million Series C equity round
SBI Holdings as sole investor
Support for infrastructure expansion and global scaling

Platform Model and Institutional Focus

EDX Markets operates an institution-only venue that launched in 2023. Its design draws from traditional financial market practices by using a central clearinghouse to limit counterparty risk. This setup provides capital efficiency and operational standards familiar to large trading firms.

The company has recorded daily trading volumes reaching $685 million, indicating demand for its services among institutional users. EDX also maintains a Singapore-based perpetual futures platform for eligible non-U.S. clients.

Product Expansion and Regulatory Steps

EDX introduced FlowConnect earlier in 2026. This service allows financial firms to integrate cryptocurrency trading options for their customers without developing separate infrastructure.

The firm submitted an application in April 2026 to the Office of the Comptroller of the Currency for a national trust bank charter. Approval would establish EDX Trust to deliver regulated custody, clearing, settlement, and risk management services.

"The funding gives us flexibility to invest in the areas that matter most to our institutional clients. We're focused on building the kind of market infrastructure institutions expect."Tony Acuña-Rohter, CEO of EDX Markets

SBI Holdings' Role and Broader Activities

SBI Holdings brings substantial experience in financial services and digital assets to the partnership. The Japanese group has expanded its involvement through stablecoin initiatives, including support for Ripple's RLUSD and the launch of JPYSC, a yen-denominated stablecoin issued via SBI Shinsei Trust Bank.

"EDX has built and provides a robust, regulatory-compliant platform that addresses the growing demand for institutional digital asset infrastructure. We believe trusted market infrastructure will serve as a critical foundation for institutional adoption."Yoshitaka Kitao, Chairman and President of SBI Holdings

SBI also agreed to acquire Bitbank in a deal valued at approximately $289 million, further consolidating its position in Japan's cryptocurrency sector.

Existing Backers and Market Context

Prior to this round, EDX received support from Citadel Securities, Fidelity Digital Assets, Charles Schwab, Virtu Financial, Paradigm, and Sequoia Capital. The latest investment adds a major international financial institution to its base.

The round occurs amid ongoing efforts by infrastructure providers to meet requirements of banks and asset managers entering digital asset markets. EDX's model prioritizes compliance and risk management aligned with established financial practices.

Aspect	Details
Funding Amount	$76 million
Lead Investor	SBI Holdings (sole investor)
Primary Uses	Trading and settlement expansion, product development, international growth
Key Initiative	OCC trust charter application for EDX Trust

EDX continues to position itself as a provider of institutional-grade services in cryptocurrency markets. The combination of new capital and strategic partnerships supports its efforts to expand capabilities for large-scale participants.