EDX Markets, the institutional crypto trading platform backed by some of Wall Street’s biggest names, just closed a $76 million Series C round with a single investor: Japan’s SBI Holdings. The deal, finalized on July 7, marks one of the more notable cross-border bets on crypto infrastructure this year.
What EDX is building and why SBI wants in
EDX Markets isn’t trying to be the next Coinbase or Binance. It’s building plumbing, specifically for institutional investors who want to trade digital assets with the same kind of infrastructure they’re used to in traditional markets. Think central clearing, proper settlement, and the kind of counterparty risk management that keeps compliance officers from losing sleep.
The platform launched its clearing operations in 2024, a move that separated it from the pack of crypto exchanges that still operate without a dedicated clearinghouse. More recently, in early 2026, EDX rolled out FlowConnect, a crypto-as-a-service product designed to let financial institutions plug into digital asset trading without building everything from scratch.
The fresh capital will go toward enhancing those trading, clearing, and settlement capabilities while supporting the continued development of products like FlowConnect. EDX has also applied for a national trust bank charter, which would give it a regulatory footprint that most crypto-native platforms can only dream about.
