Crypto Execution-Only Platform Crossover Markets Raises $12M

Crossover Markets, a superfast execution-only trading platform for cryptocurrencies, has raised a $12 million Series A led by Illuminate Financial and DRW Venture Capital. Crypto trading is evolving such that it can cater to both those players who want the simplicity of a vertically integrated model. Crossover Markets, which last month partnered with prime broker Hidden Road, is waving the flag as one of the only ultra-low-latency electronic communication networks (ECNs) in crypto, according to the firm’s CEO Brandon Mulvihill. Crossover Markets handled over $3.15 billion in notional trading value in the first quarter of this year.

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