EDX Markets, the New Jersey-based CAPITAL MARKETS digital asset technology company created by Citadel Securities veteran Jamil Nazarali in 2022, has raised $76 million in a Series C led by SBI Holdings, which reportedly picked up a 20% stake through the transaction, to fund its push to establish EDX Trust as a national trust bank in the U.S., following an OCC charter application filed in March. The company operates an institutional-only spot trading venue, a central clearinghouse that settles trades without bilateral counterparty exposure, a Singapore-based perpetual futures marketplace, and EDX FlowConnect, a crypto-as-a-service product launched in January that lets third parties build digital asset trading products on EDX infrastructure. SBI will use EDX’s infrastructure to expand access and liquidity for its own digital currency products, including JPYSC, Japan’s first trust bank-backed yen stablecoin, launched in June, bringing EDX’s total capital raised to over $100 million.

EDX Markets Targets US Trust Bank Charter With $76M Series C