what's Crossover Markets?
Crossover Markets is a digital asset trading technology firm providing CROSSx, the industry's first execution-only electronic communication network (ECN) for cryptocurrencies. Tailored for institutional liquidity providers and takers, it decouples execution from custody and brokerage to minimize conflicts, offering a neutral, high-performance venue for spot crypto trading. CROSSx employs a quote-driven matching engine with sub-20 microsecond latency, smart order matching based on price/size/time, and customizable dark/lit pools for optimal liquidity. Accessible 24/7 via FIX API or GUI in low-latency data centers, it supports complex order interactions and ultra-fast throughput to meet institutional demands in digital asset markets.
Tradeweb will route institutional crypto orders to Crossover, which just completed a $31M Series B.
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x.com/crossover_mktsCompleted a $31 million Series B funding round led by Tradeweb Markets, with participation from DRW Venture Capital, Illuminate Financial, Ripple, Virtu Financial, Wintermute Ventures, and XTX Markets, achieving a valuation of approximately $200 million.
Tradeweb Markets plans to route its institutional clients' spot crypto trading orders to the platform using its algorithmic trading technology.