Institutional crypto platform EDX Markets has closed a $76 million Series C funding round, with Japan's SBI Holdings as the sole investor, CEO Tony Acuña-Rohter told The Block.
This was an equity round, Acuña-Rohter said, but he declined to disclose its terms or EDX's valuation. Notably, this is the first time EDX has disclosed the size of one of its funding rounds. Its previous two rounds were undisclosed but included backers such as Charles Schwab, Citadel Securities, Fidelity Investments, Sequoia Capital and Paradigm. Acuña-Rohter also declined to comment on those earlier rounds, saying the details are confidential.
Founded in 2022, EDX operates an institutional-only crypto trading venue with a central clearinghouse, aiming to bring traditional market structure to digital asset trading.
The new funding will help EDX expand its trading, clearing and settlement capabilities, accelerate product development and scale its global operations, Acuña-Rohter said. The firm is focused on serving the next wave of institutions entering crypto, particularly large banks, he added.
"The funding gives us flexibility to invest in the areas that matter most to our institutional clients," Acuña-Rohter said. "We're focused on building the kind of market infrastructure institutions expect. That means bringing together the efficiency and innovation of digital assets with the transparency and risk management standards of TradFi [traditional finance]."
