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EDX Markets successfully completed Series B financing and plans to enter the Singapore market and provide spot and contract trading servicesEDX Markets successfully completed Series B financing and plans to enter the Singapore market and provide spot and contract trading services

Backed by a vote of traditional financial giants, EDX Markets announced that its crypto exchange has exceeded $1.4 billion in trading volume and completed Series B financing. Currently, EDX Markets is planning to launch an exchange in Singapore to provide investors with spot and perpetual futures trading services.
EDX Markets completes Series B financing
According to the official announcement, EDX Markets has completed Series B financing led by existing investor Sequoia Capital and new investor Pantera Capital.
According to CEO Jamil Nazarali, the funds will be used to expand EDX’s business in international markets, with Singapore as a focus region. Although the exact size of Series B financing has not been disclosed, it is foreseeable that this will provide solid support for EDX’s new technology construction.
The new round of investors also includes existing investors Citadel Securities, Virtu Financial, Sequoia and the digital asset arm of Fidelity Investments.
Other investors include Charles Schwab Corp., GSR Markets, GTS, Hudson River Trading, Miami International Holdings Inc. and Paradigm.
Informed sources said that the price per share of EDX Markets has doubled compared with its value at the beginning of 2022.
Expand Singapore
EDX currently plans to build its own platform technology and abandon the technology originally adopted in cooperation with the exchange MEMX (Members Exchange).
Jamil Nazarali: Said: Singapore will allow us to expand our product line, where we will be able to provide more diverse tokens and perpetual futures trading. It is also a good place to recruit financial talents. We hope to establish A team that is right and trustworthy.
Jamil Nazarali also highlighted in the press release that EDX’s notional trading volume has exceeded $1.4 billion since December last year, and the clearing house has cleared more than $3.1 billion in trades since its launch in October.
Meet the needs of institutional investors
EDX's infrastructure construction simulates a scenario different from that of a crypto exchange, and launches its own clearing center with reference to the traditional market mechanism, but this is also unreasonable place.
Previously reported that Ram Ahluwalia, CEO of asset management company Lumida, said: Although the idea of EDX setting up a settlement center is in line with the current regulatory framework, in fact, there is no need for a settlement center to settle the blockchain. This shows that The current regulatory framework is outdated.
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