Summary
EDX Markets closed a $76M Series C funding round led by Japan's SBI Holdings, the sole investor. EDX combines an institutional-only trading venue with a central clearinghouse, backed by Charles Schwab, Citadel Securities, Fidelity Digital Assets, and Virtu Financial. The funding will expand trading, clearing, and settlement capabilities. EDX recently launched FlowConnect (crypto-as-a-service) and filed an OCC application to establish EDX Trust, a proposed national trust bank for regulated digital asset custody, clearing, and settlement.
Key Facts
- $76M Series C, sole investor SBI Holdings
- Backed by Charles Schwab, Citadel Securities, Fidelity Digital Assets, Virtu Financial
- OCC application filed for EDX Trust national trust bank charter
- FlowConnect crypto-as-a-service launched early 2026
- SBI Group recently launched JPYSC, Japan's first trust bank-backed yen stablecoin
- Non-custodial model: separates trade execution from custody
- Series B (Jan 2024): Pantera, Sequoia
Why It Matters
EDX is building the institutional plumbing for digital assets with a federal trust bank charter that would give it a regulatory footprint most crypto-native platforms lack. SBI's investment opens a corridor between Asian institutional liquidity and a US-regulated settlement venue. The trust bank application, if approved, would let EDX custody, clear, and settle under one federal framework.