U.S. Launch Prepared by Crossover Markets as Trump Endorses Cryptocurrency: Information Revealed
Cryptocurrency Shifts Gear in the Land of Stars and Stripes
With the second coming of President Donald Trump, the statesidecrypto landscape is transforming like never before. This metamorphosis stems from a series of crypto-friendly moves, including appointing favorable regulators, promising support for digital asset innovation, and pushing for legislation that spells good news for the sector. As a result, ambitious firms like Crossover Markets Group Inc., a fresh digital asset trading platform pioneered by FX veterans, are setting their sights on the United States.
Once a territorial no-go, the U.S. market is now a tantalizing opportunity for Crossover. Prior to Trump's reassumption of power and his pro-crypto stance, the firm had steered clear of American clients, kept at bay by regulatory uncertainty. However, now, with the administrative winds shifting in their favor, they're diving headfirst into this untamed frontier.
"We're gearing up to onboard U.S. participants, providing them with a trading platform they can count on," says Crossover's CEO, Brandon Mulvihill. By the end of Q2 or early Q3, live trading on their flagship platform CROSSx is set to commence.
The CROSSx platform operates through an Electronic Communication Network (ECN) model, a familiar system in FX markets that facilitates anonymous, lightning-fast trades. Key features for institutional investors, who are always on the lookout for ways to manage counterparty risk, include:- Anonymity and low-latency execution— a handy combo straight outta FX markets.- Independent execution and custody— a strategic separation aimed at minimizing risk.- Customizable liquidity pools and deep liquidity, a perfect match for seasoned fund managers.
Crossover clocked a noteworthy $13.5 billion in 2023 notional trading volume. To fund their expansion, they secured a significant $12 million Series A funding round in mid-2024, led by Illuminate Financial and DRW Venture Capital. To deal with escalating demand, Mulvihill hinted they may be eying another funding round soon.
Trump's administration's green light for digital assets has breathed new life into firms looking to make their mark in the U.S. A beacon of hope for those eyeing the American pie, this regulatory sea change has reinvigorated global players, enticing them to stake claim on this giant slice of the crypto pie.
Now, even with the likes of Trump's crypto worth remaining a mystery, the future of digital assets in the U.S. is looking brighter than ever. As the market continues to evolve, only time will tell if it's a bull or bear run for would-be crypto titans.
- Crossover Markets Group Inc., founded in 2022, is moving towards the U.S. market, encouraged by President Donald Trump's pro-crypto policies.
- Brandon Mulvihill, CEO of Crossover, announced that they will commence live trading on their flagship platform CROSSx by the end of Q2 or early Q3.
- CROSSx operates using an Electronic Communication Network (ECN) model, offering features like anonymity, low-latency execution, independent execution and custody, customizable liquidity pools, and deep liquidity.
- In mid-2024, Crossover secured a $12 million Series A funding round, led by Illuminate Financial and DRW Venture Capital, to fund their expansion.
- By 2023, Crossover recorded a notable $13.5 billion in notional trading volume.
- Theadministrative winds shifting in favor of digital assets under Trump's administration have reinvigorated global players, enticing them to stake a claim on the American crypto market.
- Despite the uncertainty surrounding Trump's personal crypto worth, the future of digital assets in the U.S. looks promising, with the market's evolution set against a backdrop of regulatory flexibility and technological advancements.
