EDX Markets, the digital asset exchange created for institutional use, has successfully completed a Series C funding round, securing $76 million. This funding, spearheaded by SBI Holdings, a major player in the finance sector in Japan, provides EDX with the resources necessary for enhancing its trading infrastructure, innovating new product offerings, and accelerating its global expansion.
Since its trading launch in mid-2023, EDX has made significant strides, achieving more than $36 billion in cumulative trading volume by late 2024. On certain days, the trading volume reached astonishing heights, surpassing $685 million, underscoring the platform's growing acceptance and performance in the digital asset sphere.
#How has EDX Markets progressed in funding?
The recent Series C round follows a $65 million Series B round completed in January 2024, which was co-led by notable firms including Pantera Capital and Sequoia Capital. Collectively, EDX has raised $141 million in later-stage funding within a single year, highlighting strong investor confidence.
A notable aspect of this latest funding round is the leadership of SBI Holdings. This Tokyo-based financial conglomerate is recognized for its aggressive investment strategies in the digital asset space across Asia, with its portfolio including stakes in various exchanges, custody services, and blockchain technology.
#What technology supports EDX Markets?
EDX operates using advanced technology from MEMX, which boasts backing from some of the largest financial institutions in the United States. This exchange was founded in 2022 by a consortium that includes major players like Citadel Securities, Fidelity Digital Assets, Virtu Financial, and Charles Schwab.
#What asset choices does EDX offer investors?
Initially, EDX offered a limited selection of digital assets, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, in November 2024, the platform expanded its menu by introducing Dogecoin and Shiba Inu, demonstrating its commitment to diversity in trading options.
In early 2024, EDX implemented a central clearinghouse, centralizing its trading and clearing services to improve accessibility and efficiency for users. The platform has also integrated with FlexTrade and Ripple Prime, aiming to enhance access to liquidity for both spot and perpetual futures trading. FlexTrade's execution management systems are already familiar to many hedge funds and asset managers.
#What is EDX's regulatory strategy?
In pursuit of further regulatory compliance, EDX filed an application in April 2026 with the Office of the Comptroller of the Currency to establish the EDX Trust, a national trust bank. If granted approval, EDX Trust would offer regulated custody, clearing, and settlement services, solidifying the platform’s commitment to regulatory adherence and institutional robustness.