Crypto Execution-Only Platform Crossover Markets Raises $12M

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Crypto Execution-Only Platform Crossover Markets Raises $12M
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Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

Crossover Markets is waving the flag as one of the only ultra-low-latency electronic communication networks in crypto.Crossover Markets, a superfast execution-only trading platform for cryptocurrencies, has raised a $12 million Series A led by Illuminate Financial and DRW Venture Capital.

In contrast to an ECN model, crypto exchanges use a central limit order book execution model, which means it doesn't matter if the exchange has one client or a million clients, there's only ever one pool of liquidity and one market data session, Mulvihill said.

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