Illuminate Financial and DRW Venture Capital (DRW VC) led the funding round.
Other seed investors of the company include Exness, Gate.io, GMO, Pepperstone, Trademax, and Think Markets.
Crossover Markets Group, established by two former Jefferies executives, has raised $12 million in a Series A funding round. Announced today (Wednesday), the round was led by Illuminate Financial and DRW Venture Capital (DRW VC).
“This fundraise comes at a time when institutional market structure is changing in digital assets,” Brandon Mulvihill, Co-Founder and CEO of Crossover Markets, said. “Illuminate brings enormous depth of knowledge across the institutional landscape, and DRW adds significant expertise as one of the largest multi-asset market makers in the world.”
"Discussions around 24/7 Trading"
Crossover was established in 2022 by two former Jefferies executives, Mulvihill and Anthony Mazzarese. While Mulvihill is steering the company as the CEO, Mazzarese is holding the role of Chief Commercial Officer.
Brandon Mulvihill, CEO at Crossover Markets
The company launched CROSSx, a crypto electronic communication network (ECN), last year with promises to decrease trading costs, improve execution quality, and enhance market data capabilities. Although ECNs are very popular in forex, it was one of the first in the cryptocurrency industry.
Anthony Mazzarese, Co-Founder and Chief Commercial Officer at Crossover Markets
"Digital assets market structure is experiencing a pivotal change driven by institutional needs and activity," Mulvihill added. "Simultaneously, we are witnessing the early-stage emergence of discussions around 24/7 trading across traditional asset classes."
Big Backers of Crossover
Crossover is also backed by big names in the trading industry. Earlier, it closed its seed round by receiving funds from institutions including Flow Traders, Laser Digital, Two Sigma, and Wintermute, and retail brokers like Exness, Gate.io, GMO, Pepperstone, Trademax, and Think Markets.
Following the latest funding round, Mark Beeston, founder and Managing Partner of Illuminate Financial, and Kevin Wolf, CFO at American Financial Exchange and former CEO of Euronext FX, will join Crossover’s board of directors.
"Illuminate Financial has been building out a portfolio of institutional grade digital assets infrastructure companies since 2019 as part of our thesis around the convergence of traditional finance and digital asset market structure," Beeston said. "Crossover adds best-in-class execution capability to that portfolio."
Crossover Markets Group, established by two former Jefferies executives, has raised $12 million in a Series A funding round. Announced today (Wednesday), the round was led by Illuminate Financial and DRW Venture Capital (DRW VC).
“This fundraise comes at a time when institutional market structure is changing in digital assets,” Brandon Mulvihill, Co-Founder and CEO of Crossover Markets, said. “Illuminate brings enormous depth of knowledge across the institutional landscape, and DRW adds significant expertise as one of the largest multi-asset market makers in the world.”
"Discussions around 24/7 Trading"
Crossover was established in 2022 by two former Jefferies executives, Mulvihill and Anthony Mazzarese. While Mulvihill is steering the company as the CEO, Mazzarese is holding the role of Chief Commercial Officer.
Brandon Mulvihill, CEO at Crossover Markets
The company launched CROSSx, a crypto electronic communication network (ECN), last year with promises to decrease trading costs, improve execution quality, and enhance market data capabilities. Although ECNs are very popular in forex, it was one of the first in the cryptocurrency industry.
Anthony Mazzarese, Co-Founder and Chief Commercial Officer at Crossover Markets
"Digital assets market structure is experiencing a pivotal change driven by institutional needs and activity," Mulvihill added. "Simultaneously, we are witnessing the early-stage emergence of discussions around 24/7 trading across traditional asset classes."
Big Backers of Crossover
Crossover is also backed by big names in the trading industry. Earlier, it closed its seed round by receiving funds from institutions including Flow Traders, Laser Digital, Two Sigma, and Wintermute, and retail brokers like Exness, Gate.io, GMO, Pepperstone, Trademax, and Think Markets.
Following the latest funding round, Mark Beeston, founder and Managing Partner of Illuminate Financial, and Kevin Wolf, CFO at American Financial Exchange and former CEO of Euronext FX, will join Crossover’s board of directors.
"Illuminate Financial has been building out a portfolio of institutional grade digital assets infrastructure companies since 2019 as part of our thesis around the convergence of traditional finance and digital asset market structure," Beeston said. "Crossover adds best-in-class execution capability to that portfolio."
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well.
His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report.
Area of coverage:
1. CFD broker-related news
2. Industry-related Regulatory updates and developments
3. New retail trading trends
4. Prop trading industry updates
5. Executive interviews
Education:
Bachelor of Technology - National Institute of Technology, Agartala (India)
Cboe Files SEC Proposal for 24x5 Trading on EDGX: Also Plans Partial-Payout Prediction Markets
Finance Magnates Awards 2026 – Nominations Now Open
Finance Magnates Awards 2026 – Nominations Now Open
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
The Finance Magnates Awards 2026 nominations are now open. 🏆
From fintech innovators to leading brokers, this is where the finance industry celebrates its biggest achievements.
Winners will be announced at the Cyprus Gala Dinner on November 6, 2026.
Nominate your brand now.
https://awards.financemagnates.com/?utm_source=linkedin&utm_medium=video&utm_campaign=nominations-open
#FMAwards #FinanceMagnates #FintechAwards #Fintech #FinanceIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Finance Magnates Awards 2026 | Nominations Now Open 🏆#Fintech #FMAwards #TradingIndustry
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Lights on. Cameras ready. 🎬
Finance Magnates Awards 2026 nominations are now open. 🏆
#FMAwards #FinanceMagnates #FintechAwards #Fintech
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Exness sees trust as the key theme for growth in MENA Trading Growth for 2026
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Mohammad Amer, Regional Commercial Director at Exness, sits down to discuss the booming MENA financial trading market. Find out why Dubai is key to the company's growth strategy, how a mobile-first generation is changing expectations, and why trust will be the defining theme for traders in 2026.
In this interview, you'll learn:
* Why Dubai and the MENA region are critical growth markets for fintech and online trading.
* How Exness is addressing the demands of mobile-first, younger traders through engineering, platform stability, and transparent conditions.
* The essential role local talent plays in providing a culturally relevant and compliant user experience.
* Mohammad Amer's outlook on the future of the online trading industry and why stronger controls and systems are necessary.
* Why "trust" isn't just a brand value, but has commercial value—and why he predicts 2026 will be the "Year of Trust."
Key Takeaways:
➡️ The MENA region is rapidly shaping global financial markets.
➡️ New traders expect stability, precise execution, and transparency.
➡️ Local expertise is key to regulatory compliance and user experience.
➡️ Future success belongs to firms capable of meeting rising standards across regulation and platform consistency.
Read the full article at: https://www.financemagnates.com/thought-leadership/exness-sees-trust-as-the-key-theme-for-growth-in-mena-trading-growth-for-2026/
#Exness #MENA #Trading #FinTech #Dubai #OnlineTrading #FinanceMagnates #MohammadAmer #Trust #MobileTrading
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
Paytiko CEO Razi Salih on Why Payment Orchestration is a MUST-HAVE for Brokers in 2026
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
At iFX Expo Dubai, Finance Magnates spoke with Razi Salih, CEO at Paytiko, about the evolution of the payments ecosystem and why payment orchestration has shifted from an option to a necessity for brokers, prop firms, and exchanges.
Mr. Salih explains how global expansion, the need for deep localisation, and the sheer number of new payment methods, from instant banking to stablecoins, are driving this critical infrastructure shift.
#PaymentOrchestration #Fintech #Brokerage #TradingPayments #RaziSalih #Paytiko #iFXExpoDubai #Stablecoins #AIinFintech
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav: Solving Data Fragmentation & Lag for Brokers & Prop Firms
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
Altima CTO Sunil Jadhav sits down with Finance Magnates to discuss the core technology challenges facing CFD brokers and proprietary trading firms today.
Jadhav explains how the industry's reliance on batch processing and fragmented systems (where CRMs, risk tools, and trading platforms operate with separate 'sources of truth') leads to delayed data and inconsistent operational decisions. He argues that real-time event processing is essential for managing fast-moving trading activity and risk.
Learn how Altima's unified, event-driven architecture, connecting Altima CRM, Altima Prop, IB systems, and risk management through a single backbone, is designed to provide synchronous data and better operational coordination for modern brokerage and prop firm stacks.
Key Topics:
- Broker and Prop Firm Data Challenges
- The problem of delayed data processing (batch processing vs. real-time events)
- Fragmented systems and conflicting data sources
- Altima's unified, event-driven solution architecture
- The concept of a "risk-aware CRM"
- Built-in risk management in Altima Prop
#Altima #financemagnates #iFXDubai #FinTech #BrokerTech #PropFirm #CFDBroker #TradingTechnology #RealTimeData #RiskManagement #CRM #FinancialMarkets #EventDrivenArchitecture
