Crypto company Crossover Markets has teamed up with Hidden Road, which helps institutions access credit.
Hidden Road clients will have the chance to use CROSSx, Crossover’s service which allows people to simply and quickly buy and sell cryptocurrencies. CROSSx is an electronic communication network (ECN).
Brandon Mulvihill and Anthony Mazzarese, who used to work at FXCM and Jefferies, set up Crossover. Specifically reported here at FNG, the company has been heavily supported by Exness, GMO, and Pepperstone, which are well-known names in the foreign exchange and CFD trading business.
Crossover wants to prevent potential problems by uniting trade and custody/brokerage. This will enable institutions to select their own credit agents. Hidden Road was the first partner to join CROSSx, which provides trading services for digital currencies. Its use is increasing among institutions as digital assets become more popular.
Co-Founder and CEO of Crossover, Brandon Mulvihill, said:
In the non-fungible world of cryptocurrency platforms, Hidden Road has widened trading capacity for institutions by bringing to market fungibility. We believe this significant removal of operational friction from the ecosystem will materially increase trading volumes and decrease the costs of trading. In this environment, only the truly elite trading technologies will win, so this collaboration is naturally synergistic for Crossover and our flagship product, CROSSx.
Hidden Road’s Global Head of Business Development, Michael Higgins, said:
Crossover shares Hidden Road’s desire to institutionalize digital asset market structure by removing conflicts of interest, helping to bring transparency and trust back into the ecosystem. Their unbundled approach to execution fits well with Hidden Road’s partner- and technology-agnostic philosophy, and we are excited to add them to the credit network.
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