Overview
- EDX closed a $76 million Series C led by Japan’s SBI Holdings to fund trading, clearing and settlement technology and to expand products for institutional clients.
- The funding, which closed Tuesday, will accelerate EDX’s FlowConnect crypto-as-a-service product that lets banks and brokerages offer crypto trading to their customers.
- EDX already separates trading from custody through a central clearinghouse and has applied to the U.S. Office of the Comptroller of the Currency for a national trust bank charter that would enable regulated custody and settlement if approved.
- SBI framed the deal as strategic, tying EDX to its growing stablecoin and digital-asset work in Japan and giving SBI a direct link into U.S. institutional market infrastructure.
- Backed by big finance names such as Citadel Securities, Fidelity Digital Assets and Charles Schwab, EDX aims to reduce counterparty risk with familiar clearing and settlement plumbing that could make it easier for compliance-focused institutions to trade crypto and for cross-border flows to grow.