Key Takeaways
- • EDX Markets closed a $76 million Series C funding round led by SBI Holdings, according to a PR Newswire release.
- • The capital will fund expansion of EDX's trading, clearing and settlement capabilities, product development and global operations.
- • EDX has applied to the Office of the Comptroller of the Currency for EDX Trust, a proposed national trust bank for regulated digital asset custody, clearing, settlement and risk management.
- • SBI Holdings is positioning the investment within its broader push into regulated digital asset infrastructure, including the JPYSC yen stablecoin.
Summary
EDX Markets, a digital asset technology firm that pairs an institutional-only trading venue with a central clearinghouse, has closed a $76 million Series C funding round led by SBI Holdings, the Tokyo-based financial group, according to the company's announcement. The company said the proceeds will support growth in trading, clearing and settlement capabilities, accelerate product development and scale its global operations as institutional participation in digital assets rises.
EDX CEO Tony Acuña-Rohter described SBI as a strategic partner with deep expertise in serving global financial institutions, citing its extensive global network and record of growing innovative businesses. He said the investment would strengthen EDX's ability to give financial institutions the capabilities and market access they need to engage with digital assets at scale.
SBI Holdings Chairman and President Yoshitaka Kitao said EDX has built a robust, regulatory-compliant platform addressing growing demand for institutional digital asset infrastructure. He pointed to SBI's digital asset initiatives, including the issuance of JPYSC, a yen-denominated stablecoin, and the domestic handling of U.S. dollar-denominated stablecoins including RLUSD and USDC. The release notes that SBI recently launched JPYSC, which it describes as Japan's first trust bank-backed yen stablecoin.
EDX recently launched EDX FlowConnect, a crypto-as-a-service offering that lets firms launch digital asset trading products for their customers. The company has also applied to the OCC to establish EDX Trust, a proposed national trust bank. The release describes EDX as backed by leading trading and venture capital firms, and states that its products are available only to institutions in the U.S. and certain other jurisdictions. The release does not disclose the post-money valuation or the other investors participating in the round.
EDX CEO Tony Acuña-Rohter described SBI as a strategic partner with deep expertise in serving global financial institutions, citing its extensive global network and record of growing innovative businesses. He said the investment would strengthen EDX's ability to give financial institutions the capabilities and market access they need to engage with digital assets at scale.
SBI Holdings Chairman and President Yoshitaka Kitao said EDX has built a robust, regulatory-compliant platform addressing growing demand for institutional digital asset infrastructure. He pointed to SBI's digital asset initiatives, including the issuance of JPYSC, a yen-denominated stablecoin, and the domestic handling of U.S. dollar-denominated stablecoins including RLUSD and USDC. The release notes that SBI recently launched JPYSC, which it describes as Japan's first trust bank-backed yen stablecoin.
EDX recently launched EDX FlowConnect, a crypto-as-a-service offering that lets firms launch digital asset trading products for their customers. The company has also applied to the OCC to establish EDX Trust, a proposed national trust bank. The release describes EDX as backed by leading trading and venture capital firms, and states that its products are available only to institutions in the U.S. and certain other jurisdictions. The release does not disclose the post-money valuation or the other investors participating in the round.
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