SBI Holdings leads $75M crypto exchange round

TLDR

SBI Holdings has led a roughly $7576 million Series C funding round into institutional crypto exchange EDX Markets, strengthening the push for compliant, bank-grade trading infrastructure.

1. EDX Markets raised about $7576 million in Series C funding, led solely by Japans SBI Holdings, for its institutional crypto marketplace.
2. The capital backs regulated, non-custodial exchange infrastructure aimed at banks, brokers, and trading firms, not retail speculators.
3. Key things to watch are EDXs international expansion, new products, and regulatory approvals that could deepen institutional crypto adoption.

Deep Dive

1. Funding Details And Players

EDX Markets, an institutional-focused crypto venue based in Chicago, closed a Series C round of about $7576 million led solely by SBI Holdings, according to reports from crypto.news and a CoinsKid community article.

The discrepancy between $75 million and $76 million appears to come from rounding, but both sources agree SBI anchored the entire round. Earlier backers include Charles Schwab, Citadel Securities, Fidelity Investments, Sequoia, and Paradigm, so SBI is joining a roster of large traditional finance names.

EDX operates as a non-custodial marketplace, matching trades while keeping custody and some clearing separate, which is designed to reduce conflicts of interest for institutions.

2. Institutional Market Structure Impact

SBIs investment signals growing demand for compliant crypto access among banks, brokers, and asset managers. EDX offers spot trading in the US and perpetual futures for eligible non US institutions through EDXM International, aiming to look familiar to traditional market participants while handling digital assets.

For SBI, which already has deep ties to Ripple and the XRP ecosystem, backing EDX fits a broader strategy of building payment, settlement, and trading rails that can support stablecoins and tokenized assets alongside crypto. This keeps Japan-linked capital at the center of the institutional crypto race.

If EDX succeeds, it can increase high quality liquidity and give institutions venues that look more like traditional exchanges, potentially supporting larger ticket sizes and more conservative mandates.

3. What To Watch Next

EDX plans to use the funding to expand trading, clearing, and settlement services and grow operations outside the US, as highlighted in the funding announcement coverage. It has also applied to form a regulated trust bank with US authorities, which would formalize its custody and risk management stack.

Another angle is product integration: EDX has tied into Ripple Prime and plans to use stablecoins like RLUSD and USDC as collateral and settlement assets, with SBI supporting yen and dollar stablecoin rails. New partnerships, added products, or major clients joining the platform will be important signals of how quickly institutional usage scales.

Confidence: high, because multiple independent reports describe the same round, structure, and lead investor.

Conclusion

SBI Holdings leading a roughly $7576 million Series C for EDX Markets marks a clear vote of confidence in regulated crypto market infrastructure rather than speculative tokens.

For crypto users, the main impact is not an immediate price spike, but a gradual deepening of institutional trading rails that can support larger flows, more stable liquidity, and the eventual spread of compliant spot and derivatives products across regions. Watching EDXs regulatory approvals and client roster will show how much of that potential actually materializes.