Moomoo Adds Crossover’s Crypto Execution Network for US Retail Traders
Crossover Markets has
partnered with Moomoo to provide the investment platform with access to its
CROSSx digital asset execution network for US retail investors. London's trading industry is coming home! Moomoo launched crypto
trading in the US
last year with infrastructure provided by Coinbase . Finance Magnates later
reported that the
platform expanded its Texas crypto offering this year to include wallet
deposits and withdrawals and 52 cryptocurrencies. In March, Tradeweb
led a $31 million Series B round for Crossover , valuing the company at $200
million. Moomoo Connects Trading Interface to
CROSSx Under the agreement,
Moomoo will connect its trading interface to CROSSx’s routing technology at NY4
in New York. The integration will give the platform access to Crossover’s
network of digital asset liquidity providers and counterparties. “Digital asset markets
are maturing quickly,” said Neil McDonald, CEO of Moomoo US. He said investors
increasingly expect the execution standards available in traditional markets. CROSSx Handles High Volume Crypto Orders Crossover operates
CROSSx as an execution-only electronic communication network for digital
assets. The company said the system can process orders with sub-10-microsecond
order-to-acknowledgement times and handle higher volumes of market data and
order requests during periods of volatility. Moomoo serves more
than 30 million investors globally and offers products across several asset
classes. Its US platform provides cryptocurrency trading alongside its wider
investment offering. Access to Liquidity Aggregation and
Matching Crossover said the
integration will give Moomoo access to its liquidity aggregation and Smart
Order Matching technology for digital assets. “As institutional
market structure continues to mature,” said Anthony Mazzarese, Co-Founder and
Chief Commercial Officer at Crossover Markets, “the platforms leading the space
are selecting best-in-class technology for each part of the trade lifecycle.” Moomoo said the technology will support
retail investors across asset classes and help maintain crypto trading
performance during periods of heightened volatility .
This article was written by Tareq Sikder at www.financemagnates.com.