Amid more friendly crypto regulations in the US, Crossover Markets, the crypto asset trading technology firm, is preparing to launch its services for the US clients for the first time, Bloomberg reported.

Founded in 2022 by foreign exchange veterans Brandon Mulvihill, Anthony Mazzarese, and Vladislav Rysin, the London-based company has so far focused its operations outside the US.

However, Trump’s return to the White House and his promises to support the crypto sector through friendlier regulation have altered the firm’s calculus. CEO Mulvihill said the team began laying the groundwork for a US launch following Trump’s election victory.

CROSSx Model Brings FX Infrastructure to Crypto

Crossover’s platform, CROSSx, mirrors the electronic communication network (ECN) model popular in foreign exchange markets. The setup offers anonymous execution, deep liquidity, and tight spreads, characteristics often missing from retail-heavy crypto venues.

For institutional investors, the added appeal lies in its separation of trade execution from custody, addressing counterparty risk concerns that have dogged the industry since the collapse of several centralized platforms.

The platform promises low-latency execution and customizable liquidity pools, two features designed to appeal to professional trading firms accustomed to fast, flexible environments.

Rising Volumes and Strong Institutional Appetite

The firm reported $13.5 billion in notional trading volume last year and says momentum is accelerating. In June 2024, Crossover raised $12 million in a Series A round led by Illuminate Financial and DRW Venture Capital. That infusion helped scale operations and prepare for market expansion.

Now, with institutional interest climbing, the firm is reportedly considering a new fundraising round to meet demand. Crossover is not alone in its pivot toward the US market.

Trump’s pro-industry posture has reignited interest among global crypto firms that had previously avoided the country due to regulatory hostility under the Biden administration and former SEC Chair Gary Gensler.

Source: Finance Magnates