Crossover Markets raises $12 million in Series A funding

Crossover marketsa London, UK-based digital asset technology company, has raised $12 million in Series A funding round.

The round was led by Illuminate Financial and DRW Venture Capital, with participation from Flow Traders, Laser Digital, Two Sigma, Wintermute and retail brokers such as Exness, Gate.io, GMO, Pepperstone, Trademax and Think Markets. The addition of new board members was also announced. Mark Beeston, founder and managing partner of Illuminate Financial, will join Crossover’s board along with Kevin Wolf, CFO at American Financial Exchange and former CEO of Euronext FX.

The company wants to use the funds to invest in its team and technology and thus further strengthen its position in the market.

Led by CEO Brandon Mulvihill, Crossover Markets is a digital asset trading technology company focused on meeting the liquidity needs of institutions in the cryptocurrency markets. CROSSx, its execution-only cryptocurrency electronic communications network (ECN), is powered by an advanced matching engine and includes order logic that allows clients to choose who they want to trade with.

Crossover Markets recently reported over $3.15 billion in notional trading value, 415,450 trades, and over 141 billion quotes settled on CROSSx in the first quarter of 2024.

FinSMEs

26.06.2024