Crossover Markets: The New Cryptocurrency Exchange Tailored for Institutions

Introducing Crossover Markets Group Inc.

Hold onto your bitcoins, folks! Two former power players from Jefferies Financial Group are diving headfirst into the crypto pool with a brand-new exchange: Crossover Markets Group Inc. Set to make waves in the digital asset realm, this exchange is designed specifically for institutional investors. Launching sometime between late summer and early fall, there’s a hint of intrigue in the air, particularly as they’ve just closed a successful seed funding round.

Unpacking the Vision

According to their website, Crossover Markets aims to cater to the liquidity needs of institutional clients with a focus on cutting-edge technology—because who wants to be stuck in the slow lane while trading crypto? While many platforms cater to the retail crowd, Crossover Markets plans to fill in the gaps that have long been overlooked, especially when it comes to latency. The goal? To match or even exceed the trade execution standards expected in the traditional FX or equity spaces.

The Dynamic Duo Behind the Exchange

Leading the charge at Crossover Markets are CEO Brandon Mulvihill and Chief Compliance Officer Anthony Mazzarese. Having previously worked together, they are well-suited for this new frontier. Mulvihill, who steered Jefferies’ foreign exchange prime brokerage business, emphasizes how institutional players are gradually warming up to crypto. Meanwhile, Mazzarese believes the perception that latency matters less in crypto trading is a myth.

Better Technology, Better Trading

• 24/7 Availability: Investing doesn’t sleep, and neither should your trading platform.
• Customization Features: Because one size rarely fits all in the investment world.
• Reliable Infrastructure: Ensuring that no trades slip through the cracks.

As Mazzarese puts it, “We polled our network of institutional relationships globally and one of the biggest and most common requirements was reliable 24/7 technology with the same service levels and customization features they are accustomed to in other markets such as FX or equities. This exactly what Crossover Markets will provide.” Now that’s a promise worth waiting for!

The Crypto Landscape is Changing

While the vast majority of traditional institutional investors have yet to dip their toes into the crypto waters, that tide is turning. A recent Bitstamp report highlights that 80% of institutional respondents believe crypto will surpass traditional investment vehicles in the next decade. Looks like crypto adoption is going to be the star of the investment party after all!

What’s in the Future for Jefferies?

Even as Mulvihill and Mazzarese embark on this new adventure, it’s interesting to note that Jefferies isn’t sitting still. Under the leadership of Alexander Yavorsky, they’re exploring a plethora of crypto services—from trading to prime brokerage and wealth management. Talk about a healthy dose of competition!