CrossTower exchange reports record trading volumes in October
NEW YORK – November 10, 2020 – CrossTower, a digital asset exchange operator founded by capital markets veterans on a mission to mainstream digital asset investing and trading, today announced US $150 million traded on its platform since its launch in May, and a record US $60 million in volumes traded in October. This makes CrossTower one of the fastest growing exchanges in the US based on the value of instruments traded. CrossTower’s platform has been methodically built for institutional and individual investors with best-in-class safeguards, services and technologically advanced capabilities.
“The rapid rise of our trading volumes is a testament to our leadership in building a credible exchange and our commitment to compliance,” said Kapil Rathi, CEO of CrossTower. “Our bench strength and the rigor of our platform put us in a unique position to play a vital role in today’s evolving market structure, and demonstrate the reality that participants are shifting towards exchanges with a regulatory focus.”
CrossTower brings five distinct qualities to the digital asset markets:
- An Institutional Experience – senior team members have spent their careers building and running traditional platforms so institutions find their experience with CrossTower familiar;
- Overall Low Cost of Trading – a competitive and innovative pricing model along with technology to help customers achieve best execution by minimizing implicit and opportunity costs;
- Market Leading Liquidity – partnerships with leading market makers that are enabling CrossTower to offer deep liquidity and tight spreads;
- Regulatory Safeguards – built with rigorous security and regulatory safeguards;
- Robust Technology – low latency, high throughput matching engine supports a wide range of innovative order types and co-location services help users achieve lightning-fast trading speed.
The news of the firm’s $60 million milestone follows the recent announcement last month in which CrossTower announced it was granted a Class M license to launch a sister exchange that now operates internationally out of Bermuda. CrossTower also recently announced three strategic new hires from crypto and finance heavyweights Kraken, Galaxy and Legg Mason.
Today CrossTower supports trading in the most widely traded cryptocurrencies, including Bitcoin, Ether, Litecoin, USDC, Bitcoin Cash, XRP, Stellar, Chainlink, BAT and ZCash, Ox, MKR and DAI. Those interested can access the CrossTower platform here.
CrossTower is an exchange operator founded by capital markets veterans on a mission to mainstream digital asset trading and investing. We have built a multi-asset platform for institutional and individual investors with best-in-class safeguards, services and capabilities to make the next-generation financial markets a reality. CrossTower has methodically built its platform, leveraging its trading experience, technology, operational infrastructure, innovative pricing as well as regulatory and client service models, to ensure the success of the exchange at launch and well into the future. For more information, visit www.crosstower.com.CrossTower Inc. provides this content for general information purposes, to better inform you on your digital asset investment journey. We do not provide investment recommendations or provide tax advice. Please consult your investment professional or tax advisor if you require assistance in these areas.