Woofun AI reports that EDX Markets, an institutional crypto exchange, has closed a $76 million Series C funding round led by SBI Holdings. This capital injection underscores the persistent demand for specialized trading infrastructure among professional investors.

The funds, announced on Monday, are designated for expanding spot trading, clearing, and settlement services, alongside product development and international growth. EDX operates a US-focused institutional spot exchange and a Singapore-based perpetual futures venue for eligible non-US institutional clients.

Previous backers include Citadel Securities, Fidelity Digital Assets, Virtu Financial, and Charles Schwab.

Notably, in May, Ripple Prime integrated with the exchange, enabling access to spot and perpetual futures liquidity via its prime brokerage platform, with plans to support RLUSD as a settlement and collateral asset.

Woofun AI data shows daily trading volume reached $685 million, highlighting robust activity despite digital asset volumes softening below the 2021 peak. Investors continue to back trading, payments, and settlement infrastructure, betting on institutional adoption as the US regulatory environment improves. San Francisco-based Framework Ventures recently raised $400 million for a new fund targeting frontier technologies, including blockchain networks and decentralized finance.

Competitor Fomo raised $75 million at a $550 million valuation for cross-chain trading.

Meanwhile, Trace Finance secured $32 million to expand its stablecoin-based cross-border payment and settlement infrastructure for businesses. This marks a continued consolidation of capital in specialized crypto infrastructure.