CrossTower Posts $587 Million Record Trading Volumes in October 2021

CrossTower, a digital assets capital markets firm, announced that it has set record trading volumes in October 2021 since the its inception in 2020. According to the press release, the trading volumes for the month reached $587 million.

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The company also posted more than $2.5 billion in total global trading volumes and 187% consecutive quarter-on-quarter global revenue growth since its launch. In addition, its market share’s growth rose by 63% since September 2021.

Moreover, CrossTower highlighted that the institutional customer engagement was at record highs, with customers' total assets under management of $150 billion.The company also noted that there had been a rapid growth in the DeFi sector that helped fuel some of its metrics, as $270 billion in total value was locked in smart contracts.

“We have hit that cornerstone in CrossTower's growth across all of our key metrics, business lines and markets,”Kapil Rathi, Co-founder and Chief Executive Officer of CrossTower said.”We are seeing increasing awareness and appetite for digital assets from both institutional and retail investors with unprecedented engagement. CrossTower is well-placed to continue its considerable momentum into the next quarter with its pipeline."

Earlier this year, CrossTower has set up a local unit in India and launched a trading platform despite policy uncertainty. It has already hired 35 people for the Indian office and planned to expand it further to 100 for the next several months.