Abstract：Crossover Markets, a leading cryptocurrency exchange, has recently announced its institutional offering, CROSSx. CROSSx is an electronic communication network (ECN) that is designed to provide institutional investors with fast and reliable access to the cryptocurrency market.
Crossover Markets is a well-established cryptocurrency exchange that caters to individual retail investors. However, the exchange has recognized that there is a growing demand for institutional services in the cryptocurrency market. The launch of CrossX is aimed at addressing the unique needs of institutional investors, such as hedge funds, family offices, and large corporations. This move is seen as a major step forward in the mainstream adoption of cryptocurrencies.
CROSSx will allow institutions to trade cryptocurrencies through a single point of access, providing them with the best prices and fastest execution. The platform will offer a range of features, including a multi-asset trading platform, institutional-grade order matching, low-latency connectivity, and secure custodial services.
One of the key advantages of CROSSx is the level of security it provides. The platform has been designed to meet the highest security standards in the industry, with multiple levels of encryption, rigorous identity verification procedures, and secure storage of assets.
CROSSx also provides a substantial level of liquidity customization, enabling clients to create custom dark and lit liquidity pools so they can trade with whom they want based on desired trade size, spread, toxicity, and skew protection. Furthermore, fees to trade on CROSSx are among the lowest in the industry.
Jeff Wecker, CTO at Two Sigma, said, “As the digital assets space evolves, diverse and reliable execution venues for institutional trading are critical. We are excited to support a team with a track record of success in traditional finance in their effort to bring necessary innovation to the digital assets markets.”
Michael Lie, Head of Digital Asset Trading at Flow Traders, added, “We are delighted to be working with Crossover on this latest venture and strongly believe CROSSx can address the demand for an institutional-grade infrastructure, something Flow Traders strongly supports.”
Olivier Dang, Head of Ventures at Laser Digital, said, “The Crossover platform will drive greater efficiency for market participants by providing ultra-low latency execution. The team brings unique Tradfi expertise to the digital asset ecosystem and we are looking forward to working closely with them on scaling up CROSSx.”
Damian Bunce, Chief Customer Officer at Exness, said, “The CROSSx ECN applies a tried-and-tested Tradfi liquidity model to the digital assets industry. As a major liquidity provider of crypto assets, we wanted to be an early investor in the project and team.”
Ken Nakamura, CEO at GMO Trust, said, “CROSSx provides a highly efficient and dependable execution platform for sophisticated institutional market participants, spanning both traditional finance and digital asset ecosystems. Leveraging GMO Internet Group's robust foundation in both areas, we eagerly anticipate collaborating closely with the Crossover team.”
The launch of CROSSx is a significant development in the evolution of the cryptocurrency market. Institutional investors have traditionally been cautious about investing in cryptocurrencies, due to concerns about security, volatility, and market manipulation. However, with the launch of platforms like CrossX, institutional investors can now access the benefits of cryptocurrencies with the confidence that their assets are being managed securely.
The launch of CROSSx is also a positive sign for the wider cryptocurrency market. The growing demand for institutional services indicates that the market is maturing and becoming more mainstream. With institutions entering the market, cryptocurrency adoption is likely to accelerate, providing new opportunities for investors and traders alike.
In conclusion, the launch of CROSSx is an important step forward in the mainstream adoption of cryptocurrencies.
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