Crossover Markets' CROSSx Offers Connectivity to Cboe Digital

Crossover Markets Group, Inc. (Crossover), a digital asset technology firm focused on meeting the unique liquidity requirements of institutions, announced today a new partnership with Cboe Digital, a U.S. regulated exchange and real-time clearinghouse for spot cryptocurrencies and futures, to provide a clearing solution for trades across multiple digital asset execution platforms.

According to the official press release, in this collaboration, Crossover's execution-only crypto electronic communication network (ECN), CROSSx, offers institutional and intermediary clients a dynamic technology platform to execute spot cryptocurrencies, complementing Cboe Digital’s native exchange.

Besides, Cboe Digital's clearing solution, Cboe Clear Digital, a traditionally structured central counterparty for clearing and settlement, will be available to Crossover's clients.

John Palmer, President of Cboe Digital, said, "We are pleased to provide a U.S. regulated clearing solution to Crossover's clients. Cboe Digital’s clearinghouse supports multiple digital asset execution platforms including crypto spot and futures, which provides operational, technical, and collateral efficiencies to its members. We look forward to supporting Crossover’s clients in innovative ways as the digital asset market evolves."

"Institutional market structure in crypto is being reset," said Brandon Mulvihill, Co-Founder and CEO of Crossover. "The collaboration of Cboe Digital's world-class infrastructure and CROSSx, a first-of-its-kind, ultra-low latency ECN is groundbreaking. Cboe Digital promotes competition in trade execution, which may help to reduce trading fees. This collaboration is a natural fit for CROSSx, and we are proud to be the first external technology venue to provide connectivity to Cboe Digital."

This follows Crossover's partnership with Liquid Mercury​, a leading crypto trading technology provider.