EDX Markets Just Raised $76M From Japan's Biggest Financial Group.
Japan's SBI Holdings just wrote a $76 million check alone into institutional crypto exchange EDX Markets, marking the firm's first publicly disclosed funding round and signaling a bigger push into Asia-Pacific and regulated digital asset banking.
🤖 AI TL;DR SUMMARY
- EDX Markets closed a $76 million Series C round with Japan's SBI Holdings as the sole investor — its first-ever disclosed funding figure .
- Capital will fund expansion of trading, clearing, and settlement capabilities, with a strategic push into Asia-Pacific .
- SBI brings deep stablecoin and institutional digital asset experience, including its own yen stablecoin JPYSC .
- EDX has filed with the OCC to become a national trust bank (EDX Trust), signaling a shift toward becoming core banking infrastructure for crypto .
- The round underscores institutional (not retail) capital's growing confidence in regulated crypto market infrastructure .
A single investor wrote the entire check.
No syndicate or round-robin of VC logos. Just SBI Holdings, Japan's financial conglomerate, putting $76 million into an institutional crypto exchange most retail traders have never heard of.
That's not how crypto funding rounds usually work. And that's exactly why this one's worth breaking down.
What Actually Happened
EDX Markets closed a $76 million Series C funding round, with Tokyo-based SBI Holdings as the sole investor . This is the first time EDX has disclosed the actual size of one of its funding rounds — its two previous rounds, which included backers like Charles Schwab, Citadel Securities, Fidelity Investments, Sequoia Capital, and Paradigm, were never made public .
CEO Tony Acuña-Rohter confirmed it was an equity round but declined to share valuation details . Founded in 2022, EDX runs an institutional-only crypto trading venue with a central clearinghouse — essentially trying to bring traditional market structure into digital asset trading .
Why SBI Wrote the Whole Check
Acuña-Rohter said SBI is a strong strategic partner because of its global reach and deep experience in digital assets and financial services . The plan: use SBI's backing to "redouble" efforts in the Asia-Pacific region while continuing to scale globally .
This isn't SBI's first move in the stablecoin and digital asset space. The group recently launched JPYSC, Japan's first trust bank-backed yen stablecoin, and is already involved in domestic handling of dollar-denominated stablecoins including RLUSD and USDC . SBI Holdings Chairman Yoshitaka Kitao said EDX has built "a robust, regulatory-compliant platform that addresses the growing demand for institutional digital asset infrastructure" .
Read between the lines here: SBI isn't just investing cash. It's buying a seat at the table for institutional crypto rails heading into Asia.
Where the Money Is Going
EDX said the new capital will go toward three things :
- Expanding trading, clearing, and settlement capabilities
- Accelerating product development
- Scaling global operations, with a specific focus on Asia-Pacific
Acuña-Rohter was direct about who this infrastructure is for — not retail, not degens, but "the next wave of institutions entering crypto, particularly large banks" .
The Product EDX Is Actually Building
EDX has quietly been expanding well beyond a basic trading venue. Earlier this year, the firm launched EDX FlowConnect, a crypto-as-a-service offering that lets other firms plug in and launch their own digital asset trading products for their customers .
More significantly, EDX has filed an application with the Office of the Comptroller of the Currency (OCC) to establish EDX Trust — a proposed national trust bank designed to handle regulated digital asset custody, clearing, settlement, and risk management . If that application clears, EDX moves from "crypto exchange with institutional clients" to something closer to actual banking infrastructure for digital assets.
That's the real story buried under the funding headline.
A Quick Look at EDX's Funding Timeline
Notice the pattern: every prior round stayed quiet on numbers. This is EDX's first time going public with a figure and it happened right as the company is pushing into a formal banking license and Asia-Pacific expansion .
Why This Matters for Web3 Right Now
Institutional crypto infrastructure has been the quiet compounding story of this cycle. While retail attention chases meme coins and price action, firms like EDX are building the plumbing that lets banks, custodians, and asset managers actually touch digital assets without regulatory risk.
SBI's single-handed $76 million check signals something specific: Japanese institutional capital sees U.S.-regulated crypto market infrastructure as a strategic asset, not a speculative bet . Combine that with EDX's pending OCC trust bank application, and you're looking at a company trying to become systemically necessary rather than just another exchange competing on fees.
This is the kind of Web3 news that doesn't trend on X but shapes what institutional adoption actually looks like 18 months from now.
❓ Frequently Asked Questions
Q:How much did EDX Markets raise in its Series C round?
EDX Markets raised $76 million in its Series C funding round, with SBI Holdings as the sole investor. This is the first time EDX has publicly disclosed the size of any of its funding rounds since launching in 2022 .
Q:Who invested in EDX Markets' latest funding round?
Japan's SBI Holdings was the sole investor in this round, unlike EDX's previous rounds which included Charles Schwab, Citadel Securities, Fidelity Investments, Sequoia Capital, and Paradigm .
Q:What does EDX Markets actually do?
EDX Markets operates an institutional-only crypto trading venue with a central clearinghouse, aimed at bringing traditional financial market structure and compliance standards into digital asset trading for large banks and institutions .
Q:Why is SBI Holdings investing in crypto infrastructure?
SBI has been steadily building out regulated digital asset infrastructure, including launching JPYSC (Japan's first trust bank-backed yen stablecoin) and handling dollar-stablecoins like RLUSD and USDC domestically. The EDX investment extends that strategy into institutional trading rails .
Q:What is EDX Trust and why does it matter?
EDX Trust is a proposed national trust bank that EDX has applied for through the OCC, designed to provide regulated custody, clearing, settlement, and risk management for digital assets — a move that would push EDX closer to functioning as actual banking infrastructure
Q:Is this crypto news relevant to retail investors?
Not directly, since EDX is institutional-only, but it matters as a signal: growing bank and institutional interest in regulated crypto infrastructure tends to precede broader capital flow into digital assets
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Akash Kumar Jha
With over 4 years of experience, I specialize in breaking down complex Web3 and crypto concepts into clear, actionable content. From deep-dive technical explainers to project documentation, I help brands educate and engage their audience through well-researched, developer-friendly writing.