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the ambitious company building a Texas-based stock exchange to rival Wall Street’s giants — announced Friday it has secured over $250 million in total capital, bolstered by a new equity investment from banking titan J.P. Morgan.

The company’s second financing round raised about $90 million, according to a TXSE representative. The funds will accelerate the group’s preparations to launch the Texas Stock Exchange in early 2026, with trading expected to begin in the first quarter of next year.

With the investment, J.P. Morgan will gain an observer seat on TXSE Group’s board, the company confirmed.

A Challenge to Wall Street’s Monopoly

TXSE founder and CEO James H. Lee described the capital infusion as a validation of their mission to “bring increased competition to U.S. capital markets.”

“The Texas Stock Exchange’s focus on alignment and transparency for issuers will alter the trajectory of our public markets,” Lee said. “It will help establish Texas as a new global leader in capital markets.”

The company already made headlines in September when the U.S. Securities and Exchange Commission approved its registration, marking the first fully integrated national securities exchange to receive such approval in decades.