EDX Markets has closed a $76 million Series C funding round led by SBI Holdings, adding fresh capital to an institutional crypto infrastructure business that combines trading, clearing, and settlement services.

The company said the money will support product development, global expansion, and further investment in its market infrastructure. EDX operates an institution-only marketplace rather than a retail exchange, and its model separates trading from custody and settlement through a central clearinghouse. That structure is meant to look more like traditional market plumbing than the vertically integrated crypto exchange model that became common in the last cycle.

The round also ties EDX more closely to SBI, one of Japan's most active financial groups in digital assets. SBI has been expanding across stablecoins and crypto services, including yen-denominated stablecoin work and domestic access to dollar-denominated tokens such as RLUSD and USDC. For EDX, the strategic investor matters as much as the check because the company is trying to sell infrastructure to regulated financial institutions.

EDX has been moving beyond spot crypto trading. Earlier this year, it introduced FlowConnect, a crypto-as-a-service product for firms that want to offer digital asset trading under their own customer relationships. It also filed with the U.S. Office of the Comptroller of the Currency to form EDX Trust, a proposed national trust bank for digital asset custody, clearing, settlement, and risk management.

The raise is another sign that institutional crypto infrastructure remains fundable even as retail trading venues face tighter scrutiny.