Crossover Markets Group, a digital asset marketplace launched last year by two former Jefferies executives, has formed a partnership with Cboe Digital, a subsidiary of Cboe Global Markets that provides regulated trading and clearing services for cryptocurrencies.。

Crossover Markets announced the collaboration on August 4, explaining that the transaction will enable it to use Cboe Digital's clearing solution to trade on multiple digital asset execution platforms, making it the first external technology venue to provide connectivity to Cboe Digital.。According to Crossover Markets, CROSSx, the company's execution-only cryptocurrency electronic communications network (ECN) launched earlier this year, will complement Cboe Digital's local exchange.。Crossover co-founder and CEO Brandon Mulvihill further described the integration with Cboe Digital infrastructure as a "natural fit with CROSSx."。

CROSSx claims to reduce transaction costs, improve execution quality and enhance market data capabilities。The platform also enables institutions to choose their own credit counterparties, decoupling transaction execution from custody and brokerage, thus avoiding any conflicts of interest, according to the Financial Giant.。"The institutional market structure for cryptocurrencies is being reset, and Cboe Digital's world-class infrastructure collaboration with CROSSx, the first ultra-low latency ECN of its kind, is groundbreaking," Mulvihill added.。

John Palmer, President of Cboe Digital, also said in his speech that he was very pleased with the cooperation.。"Cboe Digital's clearinghouse supports multiple digital asset execution platforms, including cryptocurrency spot and futures, providing its members with operational, technical and collateral efficiencies."。As the digital asset market evolves, we look forward to supporting Crossover's customers in innovative ways。Palmer said.。

To support the deal, Crossover Markets plans to add the NY4 data center of interconnect company Equinex to its existing LD4 servers.。The digital asset trading technology company added: "The onshore presence of production servers is expected to avoid unnecessary delays in the execution process and help ensure a better experience for Cboe Digital and Crossover customers.。"

Meanwhile, Crossover Markets joined Hidden Road in May to offer cryptocurrency trading opportunities to clients of the major brokerage firm.。Hidden Road customers gain access to CROSSx through partnership。