Cryptocurrency news

Crossover raised $6 million in initial funding round

Crossover raised $6 million in initial funding round

The crosstower platform for institutional investors, launched in may, announced the completion of an initial round of funding, which received $6 million.

The CrossTower platform is designed for large financial institutions and provides them with access to trade the most popular cryptocurrencies, including BTC, ETH, LTC, XRP and LINK. The company’s management has experience in building trading platforms in traditional financial markets, so CrossTower’s approach to the cryptocurrency platform is more familiar to institutional investors.

To attract liquidity, CrossTower pays additional funds to the takers who provide the transactions. In addition, commissions on the platform differ in a small size. According to CrossTower co-founder and CEO Kapil Rathi, the launch of the trading platform was a success. He said:

“We determine the success of the launch based on the growth of liquidity and the growing number of incoming requests from clients, especially in the part of the business for institutional investors. Within a few weeks after the launch, trading conditions have become quite competitive, and market makers trust us.”

Rati said that additional funding will be used to develop the platform, develop new features and attract new customers.

Recall that Binance recently announced plans to launch a regulated trading platform in the UK for both institutional and retail investors.