WuBlockchain
EDX Markets, the institutional crypto exchange built by Fidelity, Charles Schwab and Citadel Securities, has closed a $76 million Series C led by SBI Holdings. The capital is earmarked for trading, clearing and settlement infrastructure, broader product development and global expansion.
The raise follows a busy first half for the venue. EDX rolled out EDX FlowConnect, its crypto-as-a-service offering, and filed an application with the U.S. Office of the Comptroller of the Currency to charter EDX Trust, a proposed national trust bank covering regulated digital asset custody, clearing and settlement.
Why it matters
SBI's lead slot signals strategic alignment with EDX's custody-first pitch to institutional clients. Japan's SBI is already deep in digital asset infrastructure across Asia, and its backing gives EDX a credible non-US partner as the exchange scales outside its home market. The size of the round, modest by late-stage standards, reflects EDX's niche: a regulated, settlement-focused venue rather than a high-velocity retail platform.
Market impact
A successful OCC charter would let EDX sit alongside state-trusted custodians as a federally regulated bank for digital assets. That is the structural prize competitors cannot match without going through the same multi-year review. For the broader market, a working EDX Trust would tighten the institutional pipeline: prime brokers, asset managers and corporates that need one regulated counterparty for trading and custody have, until now, had to stitch those services together from multiple vendors.
Frequently asked questions
-
What is EDX Markets?
EDX Markets is an institutional crypto exchange launched in 2022 by Fidelity, Charles Schwab and Citadel Securities. It positions itself as a regulated venue for trading, clearing and settlement rather than a retail-focused exchange.
-
What will EDX use the $76M Series C for?
EDX says proceeds will fund expansion of trading, clearing and settlement infrastructure, broader product development and global scaling of the platform.
-
Why is SBI Holdings leading the round?
SBI is a Japanese financial group with deep existing digital-asset infrastructure across Asia. Its lead role in EDX's Series C signals a strategic alignment as EDX pushes its custody and settlement business outside the U.S.
-
What is EDX Trust and why does the OCC filing matter?
EDX Trust is EDX Markets' proposed national trust bank, filed with the U.S. Office of the Comptroller of the Currency. If chartered, it would offer regulated digital asset custody, clearing and settlement under a single federally regulated entity, a structural asset competitors cannot replicate without going through…
-
What is EDX FlowConnect?
EDX FlowConnect is EDX Markets' crypto-as-a-service offering launched earlier this year. It lets partner firms integrate EDX's trading and settlement stack without running the venue themselves, broadening the exchange's institutional reach.
CoinDesk
TheBlock
Crypto News
Lookonchain