Today @crossover_mkts announced the successful completion of its $31 million Series B financing round, led by Tradeweb. In addition to the investment, Tradeweb has entered into a strategic partnership with @crossover_mkts to provide institutional spot crypto liquidity to global clients. Read more: https://t.co/TI7lvTxbcc
Crossover Markets is proud to announce its $31 million Series B fundraise at a $200 million valuation. Led by Tradeweb with participation from DRW Venture Capital, Illuminate Financial, Ripple, Virtu Financial, Wintermute Ventures, and XTX Markets, this milestone marks the continued convergence of traditional finance and digital assets.
The investment will also bring institutional spot crypto liquidity on CROSSx to Tradeweb’s global client base, combining our execution only ECN with one of the world’s leading multi asset electronic marketplaces.
As institutions increasingly require speed, transparency, and clear separation of duties in digital markets, we’re pleased to be building the execution layer that meets those standards by bridging the best of traditional market structure with the future of digital asset trading.
Read the full announcement here: https://t.co/Wf6D97TRGy
On November 11th, Crossover Markets CFO Kevin Wolf will be in Stockholm speaking at Virtu Financial's Winter Conference.
Kevin will join market leaders and innovators on the "Institutional Crypto Execution: What's Real, What's Scalable, and What's Next?" panel to discuss recent industry developments such as the evolving regulatory landscape, international dynamics, and other timely topics.
Learn more about next week's event: https://t.co/WsxUsSwGJa
Crypto market structure is evolving — and Wall Street’s playbook is coming with it.
A new Bloomberg feature highlights how Crossover Markets is bringing institutional market structure to digital assets — separating execution, custody, and credit to eliminate conflicts and build long-term trust across the ecosystem.
The article also spotlights the resiliency of CROSSx during the October market dislocation, during which the platform remained online and executed more than 60,000 trades in a few hours, demonstrating why separation of duties is crucial in times of stress.
Read more here: https://t.co/WAyAS0pkou
Building an execution-only trading venue from scratch, where credit is separate from trading, is not easy—I can speak to that firsthand. But in times of severe volatility, the model proves itself over and over. Institutions are not captive to us; prime brokers give clients the ability to trade across venues and exit risk where there is the best price or most liquidity—not necessarily where they originally opened the trades. To any of my former colleagues in FX, this would sound obvious.
When we started Crossover 3.5 years ago, we knew that as the market becomes more "institutional," FX market structure—specifically prime brokers, ECNs, and OTC trading—would play a major role in the ecosystem that is still being defined today.
Thank you to @sidcoins at @Bloomberg for providing this valuable insight into the role that ECNs and @crossover_mkts are playing in the institutional crypto landscape, something that we’ve been working so hard to build.
#bloomberg #ecn #institutionalcrypto #Crypto
We are pleased to share that our Co-Founder & CEO Brandon Mulvihill will be attending Galaxy's Gravity Leadership Symposium in New Orleans from October 27-29.
This exclusive event features some of the most influential visionaries in crypto and fintech, and we are honored to be among the firms invited to join insightful discussions around the modern digital assets landscape. We look forward to building meaningful connections with fellow industry leaders and innovators.
Learn more: https://t.co/JZzJ1MtnNw
That's 13 consecutive possessions with points vs Dolphins defense dating to Week 18 last season, including all 10 this year. That 13 is 2 more than previous worst defensive streak by any team this century per CBS.
We’re pleased to share that @abexcapital has become the latest partner to integrate with CROSSx, our industry-leading execution-only ECN.
Combining ABEX’s high-performance agency algorithms and Crossover’s ultra-low-latency matching engine, the partnership delivers unmatched tick-to-order latency — a critical edge as crypto market structure continues to evolve and latency-sensitive trading strategies become more prevalent.
In addition to seamless access to CROSSx, the integration provides ABEX clients with venue fungibility, net settlement and off-exchange custody via our credit partners.
We look forward to serving as a premier liquidity destination for ABEX clients seeking to optimize their trading needs.
Learn more about the partnership: https://t.co/nJKjwiPxjS
And to learn more about Crossover’s partner ecosystem, click here: https://t.co/YarfZgPQmA
#digitalassets #marketstucture #crypto #ECN #institutionaltrading #liquidity #tradingalgorithms #lowlatency #executionquality
Crossover Co-Founder & CEO Brandon Mulvihill joined the latest episode of On The Brink with Castle Island. Key topics discussed included:
- The shifting regulatory landscape in the USA and the impact that it is having on traditional financial institutions
- How banks and broker-dealers are responding to regulatory progress
- The battle for “Primary Market” in the United States
- The future of market structure and the bifurcation of exchanges vs. brokerages
- How Crossover is positioned in 2025
Tune into the full episode here: https://t.co/VfOlRg12q0
Big thanks to @MattWalshInBos@CastleIslandVC for the great conversation!
#ICYMI: We recently announced that CROSSx – our industry-leading, low-latency matching engine – will be accessible via @BitGo Trust's regulated qualified custody offering and Go Network clearing solution, enabling investors to seamlessly access liquidity with mitigated counterparty risk.
Read the full release for more details: https://t.co/X13QZ5po0O
#digitalassetsforinstitutions #partnership #integration #CROSSx #ECN #cryptovenues
#ICYMI: In the February edition of e-Forex, Crossover Markets Co-Founder & CEO Brandon Mulvihill examines CLOBs vs. ECNs and their impact on market structure, the buy vs. build dilemma and what truly differentiates execution venues from one another.
Read more: https://t.co/mELpNWb6Im
What’s in a name? In crypto market structure, everything. We believe that speaking the same language will be key to our industry's growth. Explore our blog, which takes a look at critical crypto market nomenclature: https://t.co/yYSrfanEz8