Crossover Markets Launches CROSSx Disclosed | Read the Announcement
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We’ve decoupled trade execution from custody and brokerage, so we can focus on providing the world’s foremost institution-only venue for digital asset trade execution.

Your Execution-Only Digital Asset Exchange

01. The Platform

CROSSx: The Digital Asset ECN

Powered by high-performance technology and hosted in Equinix’s LD4, the CROSSx electronic communication network (ECN) is purpose-built to meet the unique liquidity requirements of institutions in digital asset markets.

Download the CROSSx Overview
Download the CROSSx Overview
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Unrivaled Speed

Our sub-20 microsecond matching engine latency and throughput of millions of messages per second are many times faster than typical digital asset exchanges, giving our clients access to the fastest pricing and trade executions.

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Execution Only

We do not offer custody or brokerage services, nor do we face our clients from a credit perspective, eliminating the conflicts of interest inherent to digital asset exchanges.

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Tailored Liquidity -
Build Your Ecosystem

We work with both liquidity providers and liquidity takers to create custom dark and lit liquidity pools, so you can trade with whomever you want based on trade size, spread, toxicity and skew protection.

02. Fees

Lowest Cost to Trade

Spreads

Tightest Available

Fees (All Participants)
Monthly Volume ($USD)Commission
Under $100 M1.0 bp
$100 M to $250 M0.8 bp
$250 M to $500 M0.7 bp
Over $500 M0.5 bp

As an added benefit, commissions are waived for takers trading Stablecoin/Fiat and Stablecoin/Stablecoin pairs

0.01% Maker

0.01% Taker

03. Frequently Asked Questions

The Essentials

CROSSx is an execution-only electronic communication network (ECN) for institutional participants trading digital assets.

Contact your sales coverage directly or email sales@crossovermarkets.com to obtain our participant agreement.

Participants can connect to our matching engine in LD4, AWS Tokyo via FIX API or trade using our GUI.

Please contact sales@crossovermarkets.com.

The CROSSx digital asset ECN is available 24/7.

CROSSx creates a Best Bid Offer based on price, size, and time and routes orders for execution using our Smart Order Matching (SOM) which additionally overlays performance characteristics.

As the first digital asset ECN, CROSSx’s ultra-low-latency, quote-driven matching technology, coupled with its complex interaction rules and smart order routing, creates a significantly differentiated advantage over the central limit order book (CLOB) model that is prevalent in digital asset markets today. All maker and taker interactions are customized based on flow characteristics and unique liquidity needs.

Our fees are the lowest in the industry. Commissions start at 0.01% for all participants, and fall to a minimum of 0.005% as monthly volumes increase. As an added benefit, commissions are waived for Takers trading USDT/USD and USDC/USD.

For a full list of instruments, currency pairs and order types, please contact your sales coverage or email sales@crossovermarkets.com.

Crossover Rulebook v2.0 (Sept 2025).

04. Team

Proven Expertise. Transformative Vision.

From the market’s fastest electronic FX trading solutions to core business units of leading global financial institutions, our team has spent decades pursuing innovation and forging deep industry relationships. Today, we’re putting that experience to work to transform digital asset markets.

Brandon Mulvihill

Co-Founder & CEO

Vladislav Rysin

Co-Founder & CTO

Anthony Mazzarese

Co-Founder & CCO

05. Investors

Backed by Leading Banks, Brokers and Liquidity Providers Across Digital and Traditional Markets

06. Insights

Read More

07. Career Opportunities

Cross Over to the Next Chapter of Your Career

At Crossover, you’ll work with trading technology experts to transform one of the world’s most exciting industries – and have a great time doing it.
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07. Get Started

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to benefitting from the fastest, most reliable digital asset trade execution available.

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Brandon Mulvihill

Co-Founder & CEO

A pioneer and industry leader in online brokerage, Brandon Mulvihill’s launch of Crossover Markets illuminates his view on the convergence of traditional finance and digital assets. Previously the Managing Director and Global Head of FX Prime Brokerage at Jefferies, and a former Executive at FXCM, Brandon’s experience includes the management of electronic execution, market making, clearing and prime brokerage businesses for the past 18 years.  

At Jefferies, Brandon turned a niche North American FXPB business into a global distributor of credit to mid-market participants, clearing hundreds of thousands of trades per day and delivering to clients the first-ever prime brokerage dark pool of aggregated, short-dated swaps/forwards. Prior, Brandon started FXCM Pro’s wholesale business, launched its Prime of Prime offering, distributed the ECN FastMatch and managed FXCM’s acquisition of Tradestream, Citibank’s margin FX business.  

Brandon is originally from California, where he majored in Economics at the University of California, Davis. He has lived and operated businesses in San Francisco, New York and London.  

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Vladislav Rysin

Co-Founder & CTO

Vladislav (Vlad) Rysin is a seasoned Chief Technology Officer. Previously, Vlad was CTO and the Head of Core Electronic Trading at Credit Suisse FICC. In 2012, Vlad joined FastMatch as Co-Founder and CTO, where he adapted Crossfinder, one of the largest matching engines and algo suites in global equities trading, for foreign exchange. Ultimately, Vlad and his team rewrote FastMatch, ensuring technical superiority over all rivals. Like Crossfinder in equities, FastMatch was widely considered the fastest and most advanced FX matching engine in the world. Vlad joined Crossover Markets Group from Euronext FX, where he served as CTO. 

Vlad currently resides in the greater Miami area.

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Anthony Mazzarese

Co-Founder & CCO

Anthony Mazzarese is a seasoned foreign exchange executive with a successful track record of exponential business growth and product innovation within large global banks and broker-dealers. A digital asset enthusiast, Anthony is entrepreneurial minded with a passion for deal-making and creating strategic global partnerships. Formerly the Global Head of Distribution for FX Prime Brokerage at Jefferies, Anthony managed the global sales team, developed the firm’s electronic FXPB trading platform and was consistently a top revenue producer within all of FX Sales & Trading.  

Prior to Jefferies, Anthony was responsible for Citibank’s entrance into margin FX trading through a product offering called CitiFX Tradestream, an aggregated liquidity offering for FX brokers and mid-market hedge funds. Anthony led the margin FX sales effort in North America and helped develop an incubation program to transition these customers into FXPB. In 2015, Anthony helped drive the sale of the business unit to FXCM as a corporate M&A transaction.  

Prior to Citi, Anthony was a top producer in FXCM’s institutional business, focusing on large-scale corporate partnerships with global banks and broker-dealers.  

Anthony holds a B.S. from Fordham University with a focus in Finance and Economics. 

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Get Started

Contact Us

Complete the form below and move one step closer
to benefitting from the fastest, most reliable digital asset trade execution available.