Crossover Markets announced it has successfully raised $31 million in a Series B funding round led by Tradeweb Markets, valuing the company at approximately $200 million.
The funding round also included participation from DRW Venture Capital, Illuminate Financial, Ripple, Virtu Financial, Wintermute Ventures, and XTX Markets. Previously, the company raised $12 million in a Series A round in June 2024.
The new capital will be used to upgrade the crypto liquidity platform CROSSx, expand global operations, and strengthen integration with institutional partners. According to the company, CROSSx has processed over $50 billion in nominal trading volume through approximately 12 million orders, with nearly 100 institutions involved.
In addition to the investment, Tradeweb also plans to provide global clients with access to Crossover’s spot crypto liquidity through its algorithmic order routing technology, marking a new step in expanding crypto trading services for institutions.
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