Crossover Markets Expands to US

The friendlier regulatory view of crypto markets in the US has seen Crossover Markets extend its CrossX ECN to US markets, enabling participants there to trade spot cryptocurrencies.

Crossover says the move, which it stresses is supported by its prime brokerage partners, is “in response to growing institutional demand for digital assets fuelled by increasing regulatory clarity in the US.” As part of the expansion, co-founder Anthony Mazzarese, who has managed the firm’s London office, is relocating to New York to head up the US unit.

The firm is currently onboarding the US entities of market makers, hedge funds, asset managers, ETF providers and retail brokers, and is expected to be operational by the end of Q3 2025. Additionally, CrossX has now located in the NY4 data centre, bolstering its existing infrastructure in LD4 (London) and AWS Tokyo to create a globally distributed network for digital asset trading.

“We have reached a tipping point where institutional investors have more opportunities in the US market for digital assets, and as a result, we are now seeing institutional cryptocurrency trading begin to scale,” says Brandon Mulvihill, co-founder & CEO of Crossover Markets. “Participants in the US have been stifled by excessive fees from the captive, vertically-integrated nature of the crypto exchange business models that were prevalent historically. With multiple tier-one banks now launching custody offerings similar to what they offer in other asset classes, institutions now have the freedom to custody with one firm and can trade freely across the proverbial ‘Street.'”