ChainCatcher reports that, according to Bloomberg, fixed-income trading giant Tradeweb Markets led a $31 million Series B funding round for digital asset trading firm Crossover Markets Group, with participation from DRW Venture Capital, Ripple, Virtu Financial, Windemute Ventures, XTX Markets, and Illuminate Financial. The deal values Crossover at approximately $200 million. As part of the deal, Tradeweb will leverage its algorithmic technology to route crypto orders for institutional clients through its platform, providing them with direct access to the digital asset space.
Founded in 2022 by forex market veterans from Jefferies and Euronext FX, Crossover's CROSSx platform utilizes an ECN model, separating trade execution from custody and credit.
