EDGE Markets has completed a $29.2 million Series A funding round, led by CoinFund

BlockBeats News, June 8th, Prediction market infrastructure company EDGE Markets announced the completion of a $29.2 million Series A funding round. The round was led by CoinFund, with participation from Indicator Ventures, Mantis VC, Stepstone Group, and Bullpen Capital.

This funding round will be used to launch the EDGE Pro banking platform for prediction market makers and the EDGE Connect payment network designed for entertainment and prediction markets.

Specifically, EDGE Pro will provide market makers with high-throughput deposit accounts, enabling real-time fund transfers and settlements between platforms regulated by the Commodity Futures Trading Commission (CFTC) in the United States. The company is applying for Introducing Broker (IB) and Futures Commission Merchant (FCM) licenses from the National Futures Association (NFA) to improve capital efficiency and support margin management.

EDGE Connect is positioned as a dedicated payment network for the prediction market industry, offering 24/7 real-time payments (RTP) and reducing transaction costs through a fee model that only charges for net new deposits. The company stated that compared to traditional payment channels, this system can reduce payment processing costs by over 70%, while also decreasing refunds and user churn.