EDX Markets $76M Series C Targets Regulated Crypto Infrastructure

EDX Markets closed a $76 million Series C funding round led by SBI Holdings, the Japanese financial conglomerate. The company said the capital will go toward building regulated infrastructure for institutional digital asset trading and custody.

The raise comes alongside a separate application with the Office of the Comptroller of the Currency to establish a federally chartered trust bank. If approved, the charter would let EDX Markets offer custody and settlement services under a single federal license, replacing the patchwork of state-level approvals most crypto firms operate under.

EDX Markets runs a non-custodial exchange model that separates trade execution from asset custody, a structure familiar to equities and fixed-income markets. The company does not issue a native token. Its revenue depends on transaction fees from institutional order flow, not token appreciation or trading volume incentives.

SBI Holdings has invested broadly across blockchain and digital asset companies, including stakes in exchanges and custody providers. Its lead role in this round suggests EDX Markets may use the capital to expand beyond U.S. institutional clients into Asia, though the company did not specify geographic plans.