Crossover Markets raises $31 million in Tradeweb-led Series B with participation from Ripple
Crossover Markets secured $31 million in a Series B funding round led by Tradeweb, valuing the firm at $200 million.Summary
Crossover Markets, a digital asset trading technology firm, announced it raised $31 million in a Series B funding round, achieving a $200 million valuation. The round was led by Tradeweb Markets and included participation from Ripple, DRW Venture Capital, Illuminate Financial, Virtu Financial, Wintermute Ventures, and XTX Markets. The funds will be used to enhance CROSSx, the firm's execution-only crypto electronic communication network, expand global operations, and deepen institutional integrations. CROSSx has already supported over $50 billion in notional trading volume. Furthermore, Tradeweb will integrate Crossover's institutional spot crypto liquidity into its algorithmic order-routing technology, marking Tradeweb's entry into institutional crypto trading.
(Source：The Block)