Crossover is officially expanding into the US, with CEO Brandon Mulvihill discussing this strategic move in light of increasing institutional interest and a favorable regulatory environment. The transition follows a shift in the market landscape, particularly after recent elections, spurring US institutions to reach out to Crossover. With its electronic communications network, CrossX, Crossover positions itself uniquely as over-the-counter (OTC) trading rises in crypto, mirroring trends in the foreign exchange market. Mulvihill pointed out that even traditionally slow-moving banks are making progress in adapting to the crypto market, highlighting the urgency of action among financial institutions. This expansion reflects a broader trend where crypto-native market makers and quant hedge funds are preferring OTC trading over traditional exchanges, a move seen as recalibrating the trading dynamics in the crypto industry.

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