EDX Markets, the institutional digital asset exchange that Wall Street built, has closed a $76 million Series C funding round led by Japanese financial giant SBI Holdings. The capital will go toward expanding trading infrastructure, developing new products, and fueling international growth.
For a platform that only launched trading in mid-2023, the trajectory has been steep. EDX reported over $36 billion in cumulative notional volume by late 2024, with daily trading volumes hitting record highs above $685 million.
The money trail
This Series C follows a $65 million Series B completed in January 2024, which was co-led by Pantera Capital and Sequoia Capital. That’s $141 million in combined later-stage funding over the span of roughly a year.
SBI Holdings leading this round is notable. The Tokyo-based financial conglomerate has been one of the most aggressive traditional finance players in digital assets across Asia, with investments spanning exchanges, custody, and blockchain technology.
EDX runs on technology from MEMX, the members exchange that counts some of the biggest names on Wall Street among its backers. EDX was founded in 2022 by a consortium including Citadel Securities, Fidelity Digital Assets, Virtu Financial, and Charles Schwab.
Building the institutional toolkit
When EDX first went live, the asset menu was deliberately conservative: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The platform expanded its offerings in November 2024 by adding Dogecoin and Shiba Inu.
EDX added a central clearinghouse in early 2024, giving the platform the ability to offer comprehensive trading and clearing services under one roof.
The platform has also integrated with FlexTrade and Ripple Prime, aimed at broadening access to both spot and perpetual futures liquidity. FlexTrade brings execution management systems that hedge funds and asset managers already use daily.
The regulatory play
In April 2026, EDX filed an application with the Office of the Comptroller of the Currency to establish EDX Trust, a national trust bank. If approved, EDX Trust would provide regulated custody, clearing, and settlement services.