EDX Markets Raises $76M From SBI for Institutional Crypto Push

EDX has also launched EDX FlowConnect, a crypto-as-a-service product that lets firms offer digital asset trading to customers. The company recently filed with the Office of the Comptroller of the Currency to form EDX Trust, a proposed national trust bank for custody, clearing, settlement, and risk management.

The EDX round comes as investors keep backing crypto infrastructure companies, even while broader venture activity remains below the 2021 peak. Trading systems, settlement networks, tokenized assets, and payment rails continue to draw capital from both crypto funds and traditional finance names. Fomo raised $75 million in a Series B round at a $550 million valuation after processing $4 billion in volume, as crypto.news reported. Digital Asset Holdings also raised $355 million in a16z-led funding for Canton Network, a blockchain built for financial institutions and tokenized assets.

For traders and institutions watching the crypto infrastructure space, the SBI deal reinforces a shift toward regulated, multi-asset platforms that combine spot trading, derivatives, and stablecoin settlement. The next test for EDX will be converting its pipeline of filings and integrations into live volume and market share.

Institutional crypto infrastructure is still early in its build-out phase. The capital keeps flowing, and the players are getting more specific about what they want to build. EDX now has a powerful partner in SBI, a firm that has shown it can move capital and regulatory weight across borders.

More on the broader trend in our crypto market analysis.