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Crypto & Web3CoinDesk ·

EDX Markets Secures $76M Funding Round Led by Japan's SBI Holdings

EDX Markets has raised $76 million in a funding round led by SBI Holdings, a major Japanese financial group. The crypto exchange is designed specifically for institutional clients rather than retail investors. EDX operates by separating its trading functions from custody services through a central clearinghouse structure. This model is intended to reduce counterparty risk, a key concern for large institutional participants in crypto markets.

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Crypto & Web3CoinDesk ·

Ex-Tether Investment Chief Seeks to Sell Portion of 1.26% Stake in Firm

Richard Heathcote, former investment chief at Tether, is looking to offload a small portion of his 1.26% stake in the stablecoin issuer, according to Bloomberg. Heathcote has reportedly engaged investment bank PJT Partners to help identify potential buyers. The move follows his transition from an executive role to an advisory position at the company. Tether is the issuer of USDT, one of the world's largest stablecoins by market capitalization.

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Crypto & Web3CoinDesk ·

Weak Yen Pushes Japanese Firms Toward Bitcoin and XRP as Reserve Assets

Japanese crypto exchange SBI VC Trade reports growing corporate interest in cryptocurrencies as a weakening yen prompts firms to diversify their treasury reserves. Bitcoin and XRP are among the digital assets attracting attention from Japanese businesses seeking alternatives to yen-denominated holdings. The trend has contributed to SBI VC Trade surpassing 2 million registered accounts. A depreciating domestic currency is increasingly driving institutional and corporate players in Japan to explore crypto as a hedge.

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Crypto & Web3CoinDesk ·

Coinbase Wins UK Approval to Offer Stocks and Crypto to British Investors

Coinbase has received regulatory authorization in the United Kingdom to expand its financial offerings beyond cryptocurrency. The approval enables the exchange to provide traditional investment products alongside its existing crypto services. Institutional traders will gain access to perpetual futures under the new license. UK retail customers will initially be able to trade equities through the platform. The move marks a significant step in Coinbase's effort to become a broader financial services provider in Britain.