GCEX Taps Crossover's ECN for Expanded Crypto Market Reach

A strategic alliance announced today (Monday) between the digital brokerage GCEX Group and the electronic trading firm Crossover Markets aims to open new opportunities in the cryptocurrency sector for both companies. The partnership will see GCEX leverage Crossover's institutional-grade electronic communication network CROSSx to expand its offerings for professional investors seeking access to deeper liquidity and tighter spreads in spot crypto markets.

For Crossover, integrating with GCEX's global client base represents a crucial next step as it continues scaling up its digital asset prime brokerage infrastructure.

GCEX Partners with Crossover Markets for Institutional Cryptocurrency Liquidity

Through the collaboration, GCEX will utilize Crossover's electronic communication network (ECN) CROSSx to enable its institutional and professional clients to execute spot cryptocurrency transactions.

The partnership aims to provide GCEX customers access to deeper liquidity in the cryptocurrency spot markets via the brokerage's digital asset offerings. These include GCEX's crypto trading platform XplorSpot and API connectivity.

“With the increasing demand for digital assets, we are delighted to be partnering with Crossover, providing even greater opportunities for our institutional clients to access deep liquidity in digital assets,” commented Lars Holst, the Founder & CEO of GCEX.

GCEX offers regulated brokerage services for trading foreign exchange, contracts for difference on digital assets, as well as spot trading and conversion of virtual currencies. The company regulated in multiple jurisdictions including the UK, Denmark and Dubai. The brokerage offers a range of prime brokerage solutions to institutional investors globally.

Crossover specializes in high-performance trading infrastructure and liquidity provision for digital asset markets. Its ECN CROSSx processes over 1 billion crypto quotes daily.

“Crossover’s focus on speed, throughput and operational efficiency will help GCEX achieve tighter spreads and a lower cost to trade across their client base of institutional and professional investors, and this partnership will further enhance spot crypto liquidity,” added Anthony Mazzarese, the Co-Founder and Chief Commercial Officer at Crossover.

Two months ago, GCEX introduced a new product, namely XplorSpot Lite. This platform allows crypto-fiat conversions on any device through an intuitive interface.

Another Crossover Markets' Integration This Week

The integration with GCEX represents the latest in a series of partnerships for Crossover as it continues expanding institutional access to its liquidity network. Last week, Finance Magnates informed, that the company collaborated with Ouinex for crypto market advancements. Similar to GCEX, the crypto trading platform integrated Crossover Markets’ CROSSx.

"By partnering with Crossover Markets and harnessing their state-of-the-art technology, we are propelling ourselves forward in delivering a unique and exceptional trading experience to our clients," Ilies Larbi, the CEO of Ouinex, expressed enthusiasm regarding the partnership.

Recently, Ouinex gained Virtual Asset Service Provider (VASP) registration from the Polish Financial Supervision Authority (KNF). As Finance Magnates exclusively reported, the KNF’s VASP license was the company's first obtained authorization.

“The VASP registration in Poland is a great achievement and a first step in Europe for us, as we anticipate the implementation of the European Regulation on Crypto Assets (MiCA) at the end of 2024,” said Larbi.

GCEX also received a VASP license a few months ago, not in Poland, but in Dubai, granted by the local VARA.