Crossover Markets Secures $31 Million Series B Funding

Crossover Markets Secures Funding, marking a significant milestone as the company raises $31 million in a Series B round to accelerate the growth of its institutional digital asset trading infrastructure. The investment round values the company at approximately $200 million, highlighting growing institutional confidence in advanced digital asset trading platforms. Notably, the financing round was led by Tradeweb Markets Inc., while several other major financial institutions also participated in the funding.

In addition to Tradeweb, the round attracted investments from prominent firms including DRW Venture Capital, Ripple, Virtu Financial, Wintermute Ventures, XTX Markets, and Illuminate Financial. The participation of these industry leaders signals increasing collaboration between traditional financial institutions and digital asset infrastructure providers as institutional interest in cryptocurrency markets continues to grow. 

Brandon Mulvihill, Co-Founder and Chief Executive Officer of Crossover Markets, emphasized the significance of the funding round and the company’s evolving role in the digital asset ecosystem. He stated, “We are pleased to announce our Series B financing and are grateful to both our existing and new investors, whose support reflects the transformative role CROSSx is playing in the digital asset ecosystem.”

Crossover Markets Secures $31 Million Series B Funding

Furthermore, he noted that institutional participants increasingly demand the same levels of speed, transparency, and efficiency in crypto trading that they expect from traditional financial markets. Moreover, Mulvihill highlighted the strategic value of the partnership with Tradeweb, explaining that combining CROSSx’s microsecond matching performance with Tradeweb’s global distribution network could significantly advance institutional crypto trading infrastructure. He added, “Clear separation of duties is fundamental to market structure, and Crossover is purpose-built to serve as the industry’s execution layer and principal market.”

Meanwhile, Billy Hult, Chief Executive Officer of Tradeweb, described the collaboration as a natural extension of the company’s multi-asset strategy. He said, “Institutional investors are increasingly turning to crypto to express macro views and manage risk in a 24/7 global market.” He further explained that Tradeweb aims to extend its electronic execution standards into digital assets while delivering the transparency and liquidity institutional clients expect. The new funding will support continued development of the CROSSx technology platform, expansion of global operations, and deeper integration with institutional partners.

Since launching, CROSSx has processed more than $50 billion in notional trading volume across over 12 million transactions and currently supports nearly 100 active participants. As one of the industry’s first execution-only crypto electronic communication networks, the platform focuses exclusively on trade execution, allowing institutions to transact anonymously and efficiently without the bundled services commonly offered by traditional exchanges. Finally, the involvement of established financial institutions in the funding round demonstrates how traditional finance continues to shape the evolving digital asset market structure. Through regulatory expertise, disciplined risk management, and global distribution networks, these firms aim to strengthen the bridge between conventional capital markets and cryptocurrency trading.

Also, stay updated with The Latest broker news.