The institutional-grade cryptocurrency exchange EDX Markets, backed by Wall Street heavyweights, has officially announced the successful completion of its Series B funding round. Since its launch in December, the platform has reported over $1.4 billion in nominal trading volume**, with its newly launched clearinghouse processing more than **$3.1 billion in cleared transactions since October. This momentum is set to accelerate as EDX prepares to expand into Singapore, introducing both spot and perpetual futures trading to meet rising demand from global institutional investors.
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Series B Funding Led by Industry Titans
According to an official press release distributed via Business Wire, EDX Markets has closed its Series B round led by new investor Pantera Capital and existing backer Sequoia Capital. While the exact funding amount remains undisclosed, sources familiar with the matter reveal that EDX’s share price has doubled since early 2022—indicating strong investor confidence and valuation growth.
The exchange benefits from a powerful coalition of traditional finance (TradFi) leaders, including:
- Citadel Securities
- Virtu Financial
- Fidelity Investments’ digital assets division
- Charles Schwab Corp.
- GSR Markets
- GTS
- Hudson River Trading
- Miami International Holdings Inc.
- Paradigm
This blend of high-frequency trading firms, asset managers, and brokerage giants underscores EDX’s mission: to bridge institutional capital with the digital asset ecosystem through regulated, transparent infrastructure.
Jamil Nazarali, CEO of EDX Markets, stated that the new capital will be strategically allocated toward technology development and international expansion, with Singapore serving as the first major step beyond its U.S. operations.
Strategic Expansion Into Singapore
EDX Markets is shifting gears in its technical and geographic strategy. Initially built on technology shared with MEMX (Members Exchange), the company now plans to develop its own proprietary trading platform—a move that grants greater flexibility and control over product offerings.
Singapore has emerged as a key hub for this next phase. As a globally recognized financial center with clear regulatory guidelines for digital assets, it offers an ideal environment for EDX to scale responsibly.
“Singapore will allow us to expand our product line, where we’ll be able to offer a broader range of tokens and perpetual futures trading,” said Jamil Nazarali. “It’s also a great place to recruit top-tier financial talent. We want to build the right, trustworthy team.”
The introduction of perpetual contracts—a popular derivatives instrument among professional traders—marks a significant evolution for EDX, which initially focused solely on spot trading. By combining these advanced products with institutional-grade custody and clearing solutions, EDX aims to attract hedge funds, family offices, and asset managers seeking reliable access to crypto markets.
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Built for Institutions: The Role of a Crypto Clearinghouse
One of EDX’s most distinctive features is its independent clearinghouse, launched in October. Unlike most crypto exchanges that rely on self-clearing or third-party custodians, EDX operates a dedicated clearing entity designed to absorb counterparty risk—mirroring mechanisms used in traditional equities and futures markets.
This structure enhances security and transparency, critical factors for institutions wary of the volatility and operational risks associated with many existing crypto platforms.
However, not all experts agree on the necessity of such a model in a blockchain-native environment. Ram Ahluwalia, CEO of asset management firm Lumida, previously noted:
“While establishing a clearinghouse aligns with current regulatory frameworks, it's technically unnecessary for blockchain-settled transactions. This highlights how regulations may be lagging behind technological realities.”
Despite this debate, EDX’s approach resonates with regulators and traditional financial players who value familiarity and risk mitigation. In a space often criticized for lack of oversight, EDX’s adherence to TradFi principles could become a competitive advantage—especially in jurisdictions like Singapore, where regulatory clarity is paramount.
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Frequently Asked Questions (FAQ)
Q: What is EDX Markets?
A: EDX Markets is a U.S.-based cryptocurrency exchange backed by major financial institutions like Citadel Securities, Fidelity, and Charles Schwab. It focuses on providing secure, transparent trading infrastructure for institutional investors.
Q: Is EDX launching in Singapore?
A: Yes. EDX is expanding into Singapore with plans to launch a local exchange offering spot trading and perpetual futures contracts, leveraging Singapore’s supportive regulatory environment.
Q: Who funded EDX Markets’ Series B round?
A: The round was co-led by Pantera Capital and Sequoia Capital, with participation from existing investors including Citadel Securities, Virtu Financial, Fidelity Digital Assets, and others.
Q: Does EDX offer derivatives trading?
A: While initially focused on spot trading, EDX plans to introduce perpetual futures contracts as part of its Singapore expansion, marking its entry into institutional derivatives.
Q: Why does EDX use a clearinghouse?
A: The independent clearinghouse reduces counterparty risk and aligns with traditional financial market practices, making the platform more appealing to regulated institutions.
Q: How much trading volume has EDX processed?
A: Since December, EDX has recorded over $1.4 billion in nominal trading volume, with its clearinghouse handling more than $3.1 billion in cleared trades since October.
With robust backing, a clear institutional focus, and strategic international growth on the horizon, EDX Markets is positioning itself as a bridge between Wall Street and the decentralized future of finance. As regulatory landscapes mature and demand for compliant crypto access grows, platforms like EDX could play a pivotal role in mainstream adoption.