EDX Markets, the institutional crypto exchange backed by heavy hitters like Citadel and Fidelity, just closed a $76 million investment round. The lead investor? Japan’s SBI Holdings.
This is SBI’s first big move into the U.S. crypto exchange scene. They’re no stranger to digital assets though — SBI runs one of Japan’s largest crypto trading platforms and has been investing in blockchain infrastructure for years.
The funding comes at a weird time for crypto VC. Deal flow’s been slow across the board. But institutional infrastructure keeps pulling money. The thesis is simple: if huge money eventually moves into crypto at scale, they’ll need exchange rails that look and feel like traditional finance. That’s EDX’s pitch.
No word on valuation or how SBI’s stake breaks down. But $76 million in this market says someone’s confident.
