Illuminate Financial and DRW Venture Capital (DRW VC) led the funding round.
Other seed investors of the company include Exness, Gate.io, GMO, Pepperstone, Trademax, and Think Markets.
Crossover Markets Group, established by two former Jefferies executives, has raised $12 million in a Series A funding round. Announced today (Wednesday), the round was led by Illuminate Financial and DRW Venture Capital (DRW VC).
“This fundraise comes at a time when institutional market structure is changing in digital assets,” Brandon Mulvihill, Co-Founder and CEO of Crossover Markets, said. “Illuminate brings enormous depth of knowledge across the institutional landscape, and DRW adds significant expertise as one of the largest multi-asset market makers in the world.”
"Discussions around 24/7 Trading"
Crossover was established in 2022 by two former Jefferies executives, Mulvihill and Anthony Mazzarese. While Mulvihill is steering the company as the CEO, Mazzarese is holding the role of Chief Commercial Officer.
Brandon Mulvihill, CEO at Crossover Markets
The company launched CROSSx, a crypto electronic communication network (ECN), last year with promises to decrease trading costs, improve execution quality, and enhance market data capabilities. Although ECNs are very popular in forex, it was one of the first in the cryptocurrency industry.
Anthony Mazzarese, Co-Founder and Chief Commercial Officer at Crossover Markets
"Digital assets market structure is experiencing a pivotal change driven by institutional needs and activity," Mulvihill added. "Simultaneously, we are witnessing the early-stage emergence of discussions around 24/7 trading across traditional asset classes."
Big Backers of Crossover
Crossover is also backed by big names in the trading industry. Earlier, it closed its seed round by receiving funds from institutions including Flow Traders, Laser Digital, Two Sigma, and Wintermute, and retail brokers like Exness, Gate.io, GMO, Pepperstone, Trademax, and Think Markets.
Following the latest funding round, Mark Beeston, founder and Managing Partner of Illuminate Financial, and Kevin Wolf, CFO at American Financial Exchange and former CEO of Euronext FX, will join Crossover’s board of directors.
"Illuminate Financial has been building out a portfolio of institutional grade digital assets infrastructure companies since 2019 as part of our thesis around the convergence of traditional finance and digital asset market structure," Beeston said. "Crossover adds best-in-class execution capability to that portfolio."
Crossover Markets Group, established by two former Jefferies executives, has raised $12 million in a Series A funding round. Announced today (Wednesday), the round was led by Illuminate Financial and DRW Venture Capital (DRW VC).
“This fundraise comes at a time when institutional market structure is changing in digital assets,” Brandon Mulvihill, Co-Founder and CEO of Crossover Markets, said. “Illuminate brings enormous depth of knowledge across the institutional landscape, and DRW adds significant expertise as one of the largest multi-asset market makers in the world.”
"Discussions around 24/7 Trading"
Crossover was established in 2022 by two former Jefferies executives, Mulvihill and Anthony Mazzarese. While Mulvihill is steering the company as the CEO, Mazzarese is holding the role of Chief Commercial Officer.
Brandon Mulvihill, CEO at Crossover Markets
The company launched CROSSx, a crypto electronic communication network (ECN), last year with promises to decrease trading costs, improve execution quality, and enhance market data capabilities. Although ECNs are very popular in forex, it was one of the first in the cryptocurrency industry.
Anthony Mazzarese, Co-Founder and Chief Commercial Officer at Crossover Markets
"Digital assets market structure is experiencing a pivotal change driven by institutional needs and activity," Mulvihill added. "Simultaneously, we are witnessing the early-stage emergence of discussions around 24/7 trading across traditional asset classes."
Big Backers of Crossover
Crossover is also backed by big names in the trading industry. Earlier, it closed its seed round by receiving funds from institutions including Flow Traders, Laser Digital, Two Sigma, and Wintermute, and retail brokers like Exness, Gate.io, GMO, Pepperstone, Trademax, and Think Markets.
Following the latest funding round, Mark Beeston, founder and Managing Partner of Illuminate Financial, and Kevin Wolf, CFO at American Financial Exchange and former CEO of Euronext FX, will join Crossover’s board of directors.
"Illuminate Financial has been building out a portfolio of institutional grade digital assets infrastructure companies since 2019 as part of our thesis around the convergence of traditional finance and digital asset market structure," Beeston said. "Crossover adds best-in-class execution capability to that portfolio."
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
FX and CFDs in Africa: Key Industry Trends | FMAS:24
FX and CFDs in Africa: Key Industry Trends | FMAS:24
As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
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As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
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Asset Allocation & Trading in a Lower Interest Rate Environment | FMAS:24
Asset Allocation & Trading in a Lower Interest Rate Environment | FMAS:24
Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. This scenario prioritizes diversification beyond conventional bonds and equities. Investors should adapt by seeking assets with the potential for higher yields, considering global markets, and employing dynamic trading strategies that leverage short-term market fluctuations, all while managing risk more meticulously to safeguard returns.
SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. This scenario prioritizes diversification beyond conventional bonds and equities. Investors should adapt by seeking assets with the potential for higher yields, considering global markets, and employing dynamic trading strategies that leverage short-term market fluctuations, all while managing risk more meticulously to safeguard returns.
SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage.
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