Crossover Markets has raised $31 million in a Series B roundled by Tradeweb Markets, valuing the digital asset trading technology firm at$200 million. The deal marks Tradeweb’s first move into institutional cryptotrading as it partners with Crossover to provide spot crypto liquidity toglobal clients.Tradeweb Expands into Crypto MarketsThe partnership will allow Tradeweb to integrate Crossover’sinstitutional spot crypto liquidity into its trading platform using itsorder-routing technology.Tradeweb has been expanding its electronic tradingcapabilities for years, mainly in bonds, derivatives, and ETFs, and morerecently has tested some blockchain-based workflows in traditional markets.Today @crossover_mkts announced the successful completion of its $31 million Series B financing round, led by Tradeweb. In addition to the investment, Tradeweb has entered into a strategic partnership with @crossover_mkts to provide institutional spot crypto liquidity to global… pic.twitter.com/PzFwRVETJv— Tradeweb (@Tradeweb) March 4, 2026Another institutional trading giant that has recently pusheddeeper into crypto is TP ICAP, which is shifting its Fusion Digital Assetsvenue to a matched principal model that puts the broker between both sides ofeach trade, allowing institutions to trade first and settle later whileapplying the same balance sheet, credit and market-structure playbook italready uses across its FX, rates and credit businesses.Continue reading: The Broker That Processes $200 Trillion Wants to Do the Same for BitcoinAdditionally, JPMorgan is moving quickly into institutional crypto. Lastyear, it ramped up its dedicated crypto trading and blockchain-based paymentofferings for large clients. It positioned these services as regulated,bank-grade ways to trade digital assets and move value on-chain while helpingto cement cryptocurrencies as a mainstream asset class for institutions.Tradeweb CEO Billy Hult welcomed the move as a way to extend thefirm’s electronic execution standards into crypto markets, noting thatinstitutional investors are eying crypto to manage risk in a24/7 global market.“This collaboration marks Tradeweb’s entry intoinstitutional crypto, a natural next step in our multi-asset strategy,” commentedBilly Hult, CEO of Tradeweb. “Institutional investors are increasingly turningto crypto to express macro views and manage risk in a 24/7 global market. Asadoption grows, the market needs trusted, institutional-grade infrastructure.”Institutional Backing Highlights Market ShiftBesides Tradeweb, other investors in the round include DRWVenture Capital, Ripple, Virtu Financial, Wintermute Ventures, XTX Markets, andIlluminate Financial. Their participation highlights growing traditionalfinance involvement in advancing institutional-grade crypto infrastructure.Related: Crossover Markets Expands to Singapore After U.S. Launch, Hires Cboe FX ExecutiveCrossover’s model, focused on execution without custody orbrokerage services, aims to provide neutrality and efficiency for institutionsas digital and traditional markets continue to converge.Crossover’s platform, CROSSx, serves as an execution-onlyelectronic communication network for digital assets, focused solely ontrade execution. It reportedly supports almost 100 institutional participants,facilitating over $50 billion in matched trading volume across 12 milliontrades.This article was written by Jared Kirui at www.financemagnates.com.