trade-execution
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AiX taught a chatbot to broker a trade. Blockchain.com bought the business.
A former broker set out to automate the negotiations behind big financial trades. AiX’s route to Blockchain.com ran through an abandoned token sale, a bitcoin deal and the unglamorous work of getting settlement right.
Crossover Markets
Crossover Markets is a New York-based institutional trading technology firm behind CROSSx, one of the first execution-only cryptocurrency electronic communication networks (ECN). Founded in 2022 by former FX prime brokerage executives, it decouples trade execution from custody and brokerage to remove the conflicts of interest common on crypto exchanges. CROSSx pairs sub-20 microsecond matching with smart order routing and custom dark and lit liquidity pools, and has matched more than $50 billion in notional volume across 12 million trades for nearly 100 institutional participants.