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Tradeweb Leads $31 Million Series B in Crossover Markets ECN Platform

Tradeweb Leads $31 Million Series B in Crossover Markets ECN Platform

Crossover Markets finalizes $31 million Series B funding led by Tradeweb, with participation from Ripple and others, to advance its CROSSx institutional crypto trading network processing over $50 billion in trades.

Fact Check
The statement is fully supported by an official press release from Tradeweb and multiple reputable news organizations. The details regarding the funding amount ($31M), the round (Series B), the lead investor (Tradeweb), and the strategic goal (institutional crypto expansion) are consistent across all sources.
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Summary

Crossover Markets completed a $31 million Series B round led by Tradeweb Markets at a $200 million valuation, with participation from Ripple, DRW Venture Capital, Virtu Financial, Wintermute Ventures, XTX Markets, and Illuminate Financial. The funding will enhance the CROSSx institutional crypto trading platform, support global expansion, and integrate Tradeweb’s algorithmic trading technology to optimize institutional crypto order routing and liquidity.

Terms & Concepts
  • Electronic Communication Network (ECN): A digital trading system that automatically matches buy and sell orders for financial assets, enabling participants to trade directly without traditional intermediaries.
  • Series B Funding: A venture capital financing stage in which companies raise capital to scale operations, expand market reach, and further develop their products or services.
  • CROSSx: An institutional cryptocurrency trading platform developed by Crossover Markets designed to provide low-latency execution and deep liquidity for digital asset trading.