Digital asset trading company Crossover completes $31 million Series B financing, led by Tradeweb

PANews March 5th news, according to Bloomberg, fixed income trading giant Tradeweb Markets led the $31 million Series B financing round for digital asset trading company Crossover Markets Group, with DRW Venture Capital, Ripple, Virtu Financial, Wintermute Ventures, XTX Markets, and Illuminate Financial also participating. This transaction values Crossover at approximately $200 million. As part of the deal, Tradeweb will leverage its algorithmic technology to route institutional clients' crypto orders through the platform, providing a direct channel for entry into the digital asset sector.

Crossover was founded in 2022 by seasoned FX market professionals from Jefferies and Euronext FX. Its CROSSx platform adopts the ECN model, separating trade execution from custody and credit. Since its launch, it has matched over $5 billion in notional trading volume.