WILMINGTON, DE, Crossover Markets, the institutional digital asset trading technology firm behind CROSSx, one of the industry's first execution-only cryptocurrency electronic communication networks, announced the successful completion of its $31 million Series B financing round.

The round values Crossover at $200 million and was led by Tradeweb Markets (Nasdaq: TW), a global leader in electronic trading across asset classes, with participation from industry leaders including DRW Venture Capital, Ripple, Virtu Financial, Wintermute Ventures, XTX Markets, and Illuminate Financial.