Digital asset trading company Crossover has completed a $31 million Series B funding round, led by Tradeweb Markets

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, with participation from DRW Venture Capital, Ripple, Virtu Financial, Wintermute Ventures, XTX Markets, and Illuminate Financial. 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 pathway for its entry into the digital asset space.

Crossover was founded in 2022 by seasoned forex market professionals from Jefferies and Euronext FX. Its CROSSx platform employs an ECN model, separating trade execution from custody and credit.