EDX Markets raises $76M Series C with SBI to expand institutional crypto trading
EDX Markets, an institutional crypto exchange, raised a $76M Series C led by SBI Holdings to expand institutional crypto trading infrastructure. The funding will support spot trading, clearing and settlement services, new product development, and international growth.
This Series C follows earlier Series B backing in January 2024 from major traditional finance players. EDX runs a US-focused institutional spot exchange and a Singapore-based perpetual venue for eligible non-US institutional clients. Its market-structure push is underpinned by institutional-grade technology partnerships and a focus on smoother execution.
A new update: EDX integrated Ripple Prime in May, allowing institutional clients to access EDX liquidity via Ripple’s prime brokerage. The partners also plan to support RLUSD as a settlement and collateral asset. EDX has processed up to $685M in daily trading volume, suggesting growing demand for institutional execution.
For traders, this is mainly a market structure and liquidity-rail upgrade rather than an immediate direct catalyst for coin prices. Over time, better clearing and settlement rails could improve spreads and fill quality for institutional flows, with limited short-term impact on major tokens.
Neutral
The news is primarily about market-structure and execution infrastructure for institutional crypto trading rather than a protocol change or an immediate demand shock for any single coin. EDX Markets’ $76M Series C and the Ripple Prime integration (plus planned RLUSD settlement/collateral) can improve liquidity access and potentially tighten spreads over time, which is marginally supportive for execution quality. However, both articles emphasize it is not a direct catalyst for major token price moves in the short term. Net effect on the price of individual coins is therefore likely limited, keeping the overall stance neutral.