Digital buying and selling firm Tradeweb has led a $31 million Sequence B funding spherical in institutional crypto buying and selling platform Crossover Markets, valuing the corporate at $200 million. The spherical included participation from DRW Enterprise Capital, Ripple, Virtu Monetary, Wintermute Ventures, Illuminate Monetary and XTX Markets.
In response to Wednesday’s announcement, the deal additionally features a strategic partnership that may enable Tradeweb’s shoppers to entry spot crypto liquidity by Crossover’s CROSSx digital communication community (ECN), marking the corporate’s entry into institutional cryptocurrency buying and selling and linking its international community of institutional merchants with digital asset markets.
The funding comes as enterprise funding for crypto startups has rebounded over the previous 18 months. Buyers deployed greater than $20 billion throughout about 1,660 offers in 2025, the most important annual complete since 2022, with buying and selling, trade and infrastructure firms attracting the most important share of capital, in keeping with Galaxy analysis.
2025 VC capital invested. Supply: Galaxy report
The funds shall be used to increase CROSSx, Crossover’s crypto digital communication community designed for institutional buying and selling.
CROSSx has processed greater than $50 billion in notional buying and selling quantity throughout roughly 12 million trades since its 2023 launch and at the moment helps almost 100 market contributors, in keeping with the corporate.
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Crypto market infrastructure attracts recent enterprise funding
A number of infrastructure firms raised recent capital firstly of 2026 as buyers backed buying and selling, funds and settlement methods aimed toward institutional shoppers, highlighting rising enterprise curiosity within the crypto market’s underlying monetary infrastructure.
Digital asset infrastructure firm Talos raised a $45 million extension to its Sequence B spherical, valuing the New York–based mostly outfit at about $1.5 billion. Talos offers software program that enables establishments to commerce, handle and settle digital asset positions throughout exchanges, over-the-counter desks and custodians.
Funds infrastructure firm Mesh secured $75 million in a Sequence C spherical led by Dragonfly Capital, giving the San Francisco–based mostly firm a $1 billion valuation. The spherical included buyers similar to Paradigm, Coinbase Ventures and SBI Funding, with a part of the financing settled utilizing stablecoins moderately than conventional banking rails.
Stablecoin funds platform Rain raised $250 million in a Sequence C spherical led by Iconiq, valuing the corporate at $1.95 billion because it expands its international cost community.
In the meantime, VelaFi raised $20 million in a Sequence B spherical led by XVC and Ikuyo to increase enterprise funds and settlement companies throughout Latin America, the USA and Asia.
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