Flow

2024

Kevin

Read

Crossover Markets, a tech firm specializing in digital asset solutions for institutional clients, has secured $12 million in its latest Series A funding round. The investment was led by Illuminate Financial and DRW Venture Capital, along with participation from strategic investors like Flow Traders, and Two Sigma, and retail brokers such as Exness and Pepperstone. 
The funding arrives amidst significant shifts in institutional market structures within digital assets. Brandon Mulvihill, CEO of Crossover Markets, <a href="https://www.prnewswire.com/news-releases/crossover-markets-raises-12-million-series-a-funding-round-led-by-illuminate-financial-and-drw-venture-capital-302182278.html" target="_blank" rel="noreferrer noopener nofollow">highlighted</a> the evolving prime brokerage and central clearing models that are enhancing market fungibility and opening up new execution venues.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We are thrilled to announce our Series A funding round led by <a href="https://twitter.com/IlluminateFM?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@IlluminateFM</a> &amp; <a href="https://twitter.com/DRWTrading?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@DRWTrading</a>. Proceeds from this funding round will be used to expand our role as the leading ECN in digital assets &amp; bring 24/7 trading to additional asset classes. Read more: <a href="https://t.co/Nk7gUKGXf5" rel="nofollow" target="_blank">https://t.co/Nk7gUKGXf5</a> <a href="https://t.co/lSsXrGQXNm" rel="nofollow" target="_blank">pic.twitter.com/lSsXrGQXNm</a>— Crossover Markets (@crossover_mkts) <a href="https://twitter.com/crossover_mkts/status/1805859803392004534?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">June 26, 2024</a>
 </blockquote> 
 </div>
</figure> 
Illuminate Financial, known for its expertise in digital asset infrastructure, sees Crossover as pivotal in meeting institutional trading needs with its advanced, low-latency technology. 
DRW Venture Capital, a leader in multi-asset market making, views Crossover as a strategic fit for supporting market structure innovations across traditional and crypto markets. In conjunction with the funding, Crossover has expanded its board to include Mark Beeston from Illuminate Financial and Kevin Wolf, adding deep experience in financial markets. 
Crossover’s flagship platform, CROSSx, stands out for its ultra-low-latency and quote-driven matching technology, facilitating competitive pricing and reduced trading costs. 
Recent performance metrics for Q1 2024 show substantial notional trading value and trade volumes processed through CROSSx, underscoring its growing role in institutional digital asset trading. 
With the new capital infusion, Crossover Markets plans to bolster its technological capabilities and expand its team, aiming to solidify its position as a leading execution-only trading venue for digital assets in a rapidly evolving market landscape. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/26/solanas-colosseum-raises-60m-for-startup-accelerator-fund/" target="_blank" rel="noreferrer noopener">Solana’s Colosseum Raises $60M for Startup Accelerator Fund</a> 
</blockquote>

Crossover Markets’ Crypto Platform Raises $12M in Funding

The Crypto Times

Άλλα άρθρα που δημοσιεύτηκαν στις 26 Ιουν 2024

Argentina Celebrates First Week Without Inflation in Over 30 Years Under President Javier Milei

WikiLeaks Founder Julian Assange Released from London Jail After Plea Deal with US Authorities

Michael Saylor Breaks Silence Amid Bitcoin (BTC) Price Stalemate

Cryptocurrency Cronos Down More Than 6% Within 24 hours

MoonBag Presale Half Sold in Less Than a Month, Breaks Hearts of BlastUP and Cardano

Abra Settles with 25 States, to Return $82.1M in Crypto Assets

Join our free newsletter for daily crypto updates!