Crossover Markets Group, Inc., a digital asset trading technology firm, has announced a partnership with Hidden Road, a global credit network for institutions. This partnership will streamline access to CROSSx, Crossover’s execution-only crypto electronic communication network (ECN), for Hidden Road clients. This collaboration comes at a time when institutional adoption of digital assets is on the rise.
Crossover’s approach decouples trade execution from custody and brokerage, allowing institutions to freely choose their own credit counterparties. Hidden Road is the first partner to be onboarded and certified with CROSSx to provide prime brokerage services for spot cryptocurrency transactions.
According to Brandon Mulvihill, Co-Founder and CEO of Crossover, Hidden Road has widened trading capacity for institutions by bringing fungibility to the non-fungible world of cryptocurrency platforms. This removal of operational friction is expected to increase trading volumes and decrease trading costs. Mulvihill believes that only elite trading technologies will thrive in this environment, making the collaboration with Hidden Road synergistic for Crossover and CROSSx.
Michael Higgins, Hidden Road’s Global Head of Business Development, stated that Crossover shares Hidden Road’s vision of institutionalizing digital asset market structure by removing conflicts of interest and bringing transparency and trust back into the ecosystem. Higgins sees Crossover’s unbundled approach to execution as a good fit with Hidden Road’s partner- and technology-agnostic philosophy. The partnership with Crossover will benefit Hidden Road’s credit network.
Crossover has recently gained momentum with the launch of CROSSx and the completion of its seed investment round. CROSSx is a digital asset trading venue powered by a fast and advanced matching engine. Crossover, led by a team with extensive experience in FX trading, prime brokerage technology, and artificial intelligence, is at the forefront of attracting institutions to the crypto market.
Crossover Markets is a digital asset trading technology firm focused on meeting the unique liquidity requirements of institutions in the spot and derivative cryptocurrency markets. CROSSx, the company’s execution-only cryptocurrency ECN, enables clients to choose their trading counterparts.