Digital asset trading company Crossover completes $31 million Series B funding, led by Tradeweb

PANews March 5 News, according to Bloomberg, fixed income trading giant Tradeweb Markets led a $31 million Series B funding round for digital asset trading company Crossover Markets Group. DRW Venture Capital, Ripple, Virtu Financial, Wintermute Ventures, XTX Markets, and Illuminate Financial also participated. The deal values Crossover at approximately $200 million. As part of the transaction, Tradeweb will leverage its algorithmic technology to route institutional clients’ crypto orders through the platform, providing a direct gateway into the digital asset space. Crossover was founded in 2022 by senior forex market professionals from Jefferies and Euronext FX. Its CROSSx platform operates on an ECN model, separating trade execution from custody and credit, and has matched over $50 billion in nominal trading volume since launch.