Institutional crypto exchange EDX Markets closed a $76 million Series C round led by Japan's SBI Holdings, with the explicit goal of securing a US national trust bank charter. The funding positions EDX to become a fully regulated custodian for digital assets at a time when institutional demand for crypto infrastructure is accelerating. EDX's platform separates trading from custody, a model designed to appeal to banks and asset managers wary of the conflicts that plagued earlier crypto exchanges. SBI Holdings, Japan's largest financial services conglomerate, joins as a strategic investor, giving EDX a bridge to Asian institutional capital.
The round reflects a broader shift in crypto finance: the money is flowing toward regulated infrastructure rather than speculative trading platforms. EDX currently operates a centrally cleared matching engine for Bitcoin and Ethereum. A national trust bank charter would allow it to hold client assets directly, settle trades in-house, and offer custody services without relying on third-party banks. The move comes as US regulators have signaled greater openness to digital asset frameworks under clearer compliance rules.