Crossover Markets Raises $12M in Series A Funding

Crossover Markets

Crossover Markets, a London, UK-based digital asset technology firm, raised $12M in Series A funding.

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,¬†,¬†GMO,¬†Pepperstone,¬†Trademax¬†and¬†Think Markets. It also announced the addition of new Board Members.¬†Mark Beeston, Founder and Managing Partner of Illuminate Financial, will join Crossover’s board of directors along with¬†Kevin Wolf,¬†CFO at¬†American Financial Exchange¬†and¬†former CEO of¬†Euronext FX.

The company intends to use the funds to invest in its team and technology, further strengthening its position in the market.

Led by CEO Brandon Mulvihill, Crossover Markets is a digital asset trading technology firm focused on meeting liquidity requirements of institutions in the cryptocurrency markets. CROSSx, its execution-only cryptocurrency Electronic Communication Network (ECN), is empowered by advanced matching engine and includes order logic that enables clients to choose with whom they want to trade.

Crossover Markets recently reported over $3.15 billion (USD) in notional trading value, 415,450 trades, and over 141 billion quotes processed on CROSSx in Q1 2024.