EDX Markets
Institutional non-custodial centrally cleared digital asset trading platform
About EDX Markets
EDX Markets was founded in 2022 with backing from major Wall Street institutions including Citadel Securities, Fidelity Digital Assets, Virtu Financial, and Charles Schwab, marking the first time traditional financial heavyweights jointly built a crypto exchange. In 2023, EDX launched its US spot exchange, introducing a non-custodial model where trades are settled through a separate clearinghouse, a structural innovation that addressed institutional concerns about asset segregation and market integrity.
In 2024, the company completed a $76 million Series C funding round led by SBI Holdings, one of Japan's largest financial groups, signaling a strategic expansion into Asian markets and strengthening its international presence. The same year, EDX appointed CTO Tony Acuña-Rohter as CEO, while founder Jamil Nazarali transitioned to Executive Chairman, a leadership transition that positioned the company for its next growth phase. These milestones collectively reflect EDX's evolution from a US-focused startup into a globally oriented institutional trading platform.
Over the past six months, EDX Markets has achieved several key milestones: it closed a $76 million Series C funding round led by SBI Holdings to expand trading, clearing, and settlement capabilities and scale global operations; launched FlowConnect, a crypto-as-a-service offering enabling institutions to offer digital asset trading to their clients; and filed an application with the OCC in April to establish EDX Trust, a proposed national trust bank for regulated custody, clearing, settlement, and risk management. On the ecosystem front, StoneX Digital onboarded to EDX’s trading and central clearing infrastructure; EDX integrated Figure’s SEC-registered yield-bearing digital security YLDS as collateral and a treasury asset; and FlexTrade integrated EDX into FlexDigitalAssets for institutional-grade crypto trading and clearing workflows.
Looking ahead, EDX will continue strengthening its institutional-grade market infrastructure, pursue approval of EDX Trust, deepen the convergence of traditional finance and digital assets, improve capital efficiency and compliance standards, and expand its global institutional footprint.
Jamil Nazarali (Executive Chairman of the Board): Former CEO of EDX Markets, previously held roles at Citadel Securities and Knight Capital.
Tony Acuña-Rohter (CEO): Former CTO of EDX, previously CTO of ErisX and Director of Software Engineering at CME Group.
David Olsson (Chief Commercial Officer): Previously Global Head of Institutional Sales at Kraken, BlockFi, Credit Suisse, and Bank of America.
David A. Forman (General Counsel): Formerly Chief Legal Officer at Fidelity Brokerage Services and General Counsel at Fidelity Digital Asset Services.