Tradeweb Leads $31M Series B in Crossover Markets

[cryptoenthusiast]

Tradeweb has spearheaded a $31 million Series B funding round for institutional crypto trading platform Crossover Markets, valuing the startup at $200 million. The round also included participation from DRW Venture Capital, Ripple, Virtu Financial, Wintermute Ventures, Illuminate Financial, and XTX Markets.

Alongside the investment, Tradeweb is forming a strategic partnership with Crossover, giving its institutional clients access to spot crypto liquidity via Crossover’s CROSSx electronic communication network (ECN). Since its 2023 launch, CROSSx has processed over $50 billion in trades across 12 million transactions and currently serves nearly 100 market participants. The move marks Tradeweb’s entry into institutional crypto trading, connecting its global network of traders with digital asset markets.

[kevin1]

strategic partnerships = fancy way of saying “we’re printing money but call it synergy”