SBI sole investor in EDX Markets’ $76M Series C

SBI Holdings invested $76 million as the only backer in EDX Markets' Series C, the company confirmed. EDX was founded in 2022 and this is the first time it has publicly disclosed the size of a funding round.

The company declined to disclose the round's financial terms or its valuation. Details of earlier, previously undisclosed rounds remain confidential; past backers have included Charles Schwab, Citadel Securities, Fidelity Investments, Sequoia Capital and Paradigm.

EDX operates an institutional-only digital-asset trading venue with a central clearinghouse designed to reflect traditional market infrastructure. The firm focuses on serving large banks and other institutions entering digital assets.

EDX said the new capital will be used to expand trading, clearing and settlement capabilities, speed product development and scale global operations. “The funding gives us flexibility to invest in the areas that matter most to our institutional clients,” EDX CEO Tony Acuña-Rohter said. “We're focused on building the kind of market infrastructure institutions expect. That means bringing together the efficiency and innovation of digital assets with the transparency and risk management standards of TradFi.”

SBI described the investment as part of efforts to increase EDX's presence in the Asia-Pacific region. Yoshitaka Kitao, SBI's representative director, chairman and president, said, “EDX provides a robust, regulatory-compliant platform that addresses the growing demand for institutional digital asset infrastructure,” and that SBI plans to work with EDX to expand market access.

SBI has stepped up activity in regulated digital asset infrastructure. The Tokyo-based group launched JPYSC, a yen stablecoin backed by a trust bank, and is involved in domestic handling of U.S. dollar stablecoins including RLUSD and USDC.

EDX has added products and filed regulatory applications this year. The firm launched EDX FlowConnect, a crypto-as-a-service product that lets institutions offer digital-asset trading to their customers, and filed with the Office of the Comptroller of the Currency to establish EDX Trust, a proposed national trust bank for custody, clearing, settlement and risk management services.

Acuña-Rohter said the Series C capital will support technology and operational investments tied to clearing, settlement and risk controls.