TLDR:
- Crossover Markets has raised $12 million in a Series A funding round led by Illuminate Financial and DRW Venture Capital.
- Illuminate Financial founder and Managing Partner Mark Beeston will join Crossover’s board as part of the deal.
Crossover Markets, a digital asset trading technology firm, secured $12 million in a Series A funding round led by Illuminate Financial and DRW Venture Capital. The funding will be used to expand the team, develop the electronic communication network CROSSx, and bring 24/7 trading to additional asset classes. Illuminate Financial’s focus on digital asset market structure convergence and DRW’s expertise in multi-asset market making make them valuable partners for Crossover. Crossover’s platform, designed to enable 24/7 trading with high performance, has already facilitated significant trading volume. The venture capital firms join existing strategic investors in supporting Crossover’s growth. The company is poised to capitalize on the changing institutional market structure in digital assets and traditional markets.
