SBI Holdings Invests $76 Million in Institutional Crypto Exchange EDX Markets
Summary
- SBI Holdings has invested $76 million in institutional digital-asset trading platform EDX Markets as it expands global digital-asset infrastructure.
- EDX Markets said it will use the funding to enhance trading and settlement infrastructure based on a central counterparty (CCP), expand globally and build digital-asset infrastructure for institutional investors including large banks.
- SBI Holdings plans to accelerate expansion of the institutional digital-asset market, particularly in the Asia-Pacific region, as it broadens its stablecoin business with JPYSC, RLUSD and USDC.
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SBI Holdings has invested $76 million in EDX Markets, an institutional digital-asset trading platform, as the Japanese financial group expands its global digital-asset infrastructure.
The Block reported on July 7 that SBI was the sole investor in EDX Markets’ Series C round. EDX disclosed the amount raised but did not provide its valuation or detailed investment terms. It was the first time the company had disclosed the size of a fundraising round.
Founded in 2022, EDX Markets is an institutional-only digital-asset trading platform that provides trading, clearing and settlement services based on a central counterparty, or CCP. The funding will be used to enhance its trading and settlement infrastructure, develop new services and support global expansion. EDX plans to focus on building the infrastructure large banks and other institutional investors need to enter the digital-asset market.
SBI has been expanding its digital-asset business rapidly. It launched JPYSC, Japan’s first yen-denominated stablecoin backed by a trust bank, and is also involved in the distribution of dollar-based stablecoins including RLUSD and USDC. The company plans to use the investment to accelerate growth in the institutional digital-asset market, particularly in the Asia-Pacific region.
Yoshitaka Kitao, chairman and president of SBI Holdings, said EDX has built a robust, regulation-friendly platform that can meet institutional demand for digital assets. He added that SBI will accelerate innovation and support broader global adoption by linking the investment with its digital-asset ecosystem, including JPYSC and its dollar-based stablecoin business.
