Crypto to exchange for establishments
The Crossover Markets Group Inc. website states that it is a “digital asset exchange designed to meet the liquidity needs of institutional clients.” It is slated for launch in late summer to early fall after completing an ongoing seed funding round.
— Crossover Markets (@crossover_mkts) April 26, 2022
The exchange’s co-founder, Brandon Mulvihill, who previously managed Jefferies’ prime brokerage business, has been tipped to take on the role of chief executive. On the other hand, co-founder Anthony Mazzarese is going to work as compliance director. Vlad Rysin, the former technical director of trading services firm Euronext FX, would join the team as a technologist.
The upcoming exchange will focus on offering superior technology that accelerates crypto trading and reduces latency to the levels required by institutional investors in traditional FX or stocks. Mazzarese believes that latency should not be overlooked when it comes to crypto trading, which many retail-focused exchanges do.
He added :
“We surveyed our network of institutional relationships globally, and one of the most important and common requirements was reliable 24/7 technology with the same service levels and functionality of customization that they are used to in other markets such as forex or stocks.This is exactly what Crossover Markets will provide.
Adoption of Crypto by Institutional and Retail Investors
Retail and institutional investors have become an important factor in the mass adoption of crypto. A recent survey by trading platform Bitstamp reveals that 80% of institutional and retail investors believe that digital assets will overtake traditional investment vehicles in the next ten years.
In February, Solana Labs launched a new payment protocol, Pay Solanafor digital merchants to authorize crypto payments directly from their customers.