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Crossover Markets Expands to Singapore After U.S. Launch, Hires Cboe FX Executive thumbnail

Crossover Markets Expands to Singapore After U.S. Launch, Hires Cboe FX Executive

Tuesday, 05/08/2025 | 09:30 GMT by
Damian Chmiel

  • Crossover Markets hired Lik Hui Lim as Director of Business Development, marking its first dedicated APAC presence.
  • The crypto ECN firm is expanding globally after reporting $13.5 billion in trading volume and raising $12 million in Series A funding.

lik hui lim

Crossover
Markets has appointed Lik Hui Lim as Director of Business Development,
establishing its first dedicated presence in the Asia-Pacific region, where
institutional clients are driving rapid growth for the crypto trading platform.

Crossover Markets Hires
Singapore Executive for APAC Growth Push

The
London-based company, which operates the CROSSx
electronic communication network
for digital assets, has been aggressively
expanding its geographic footprint. Earlier this year, Crossover announced
plans to enter the U.S. market as regulatory conditions improve under
the Trump administration
.

Lim joins
from Cboe Global Markets, where he spent over eight years in FX and market data
sales roles. His career spans major financial institutions including FIS and
CEB (now Gartner), with experience across both Hong Kong and U.S. markets.
Based in Singapore, he brings fluency in English, Mandarin, and Cantonese.

The hire
comes as Crossover reported $13.5 billion in trading volume last year
and
closed a $12 million Series A funding round in June 2024
. The company says
momentum is accelerating among institutional investors seeking alternatives to
retail-focused crypto exchanges.

APAC Appetite Grows for
Institutional Trading

Crossover’s
ECN model borrows heavily from foreign exchange market infrastructure, offering
anonymous execution and deep liquidity pools. The platform separates trade
execution from custody, addressing counterparty risk concerns that have plagued
centralized crypto platforms.

The
company’s founders – Brandon
Mulvihill, Anthony Mazzarese, and Vladislav Rysin
– are FX veterans who
launched Crossover
in 2022. Their approach targets professional trading firms accustomed to the
speed and flexibility found in traditional currency markets.

For
institutional investors, the appeal lies in tight spreads and low-latency
execution typically missing from crypto venues dominated by retail
traders. Crossover says roughly 10% of trades on its platform are “Order
Crossing Order” transactions, where institutional flow meets institutional
flow without market maker intermediation.

Recent
partnerships underscore growing institutional adoption. Talos,
which provides trading technology for digital assets, integrated with CROSSx
last year
. GCEX Group also tapped the platform to
expand
its crypto market offerings for professional investors.

Regulatory Tailwinds Drive
Expansion

The timing
of Crossover’s APAC expansion coincides with improving regulatory clarity
across multiple jurisdictions. Singapore
has emerged as a key hub for crypto firms
seeking stable oversight, while Hong
Kong has reopened its doors to digital asset businesses.

Crossover
initially avoided the U.S. market due to regulatory uncertainty under the Biden
administration. However, Trump’s return to the White House and promises of
crypto-friendly policies have changed the company’s calculus. CEO Mulvihill
said the team began preparing for a U.S. launch following the election results.

The
regulatory thaw has reignited interest among global crypto firms that
previously steered clear of American markets. Industry observers expect more
offshore platforms to establish U.S. operations as the new administration takes
shape.

Crossover
is reportedly considering another funding round to meet growing demand. The
company’s Series A was led by Illuminate Financial and DRW Venture Capital,
providing capital to scale operations and expand geographically.

Crossover
Markets has appointed Lik Hui Lim as Director of Business Development,
establishing its first dedicated presence in the Asia-Pacific region, where
institutional clients are driving rapid growth for the crypto trading platform.

Crossover Markets Hires
Singapore Executive for APAC Growth Push

The
London-based company, which operates the CROSSx
electronic communication network
for digital assets, has been aggressively
expanding its geographic footprint. Earlier this year, Crossover announced
plans to enter the U.S. market as regulatory conditions improve under
the Trump administration
.

Lim joins
from Cboe Global Markets, where he spent over eight years in FX and market data
sales roles. His career spans major financial institutions including FIS and
CEB (now Gartner), with experience across both Hong Kong and U.S. markets.
Based in Singapore, he brings fluency in English, Mandarin, and Cantonese.

The hire
comes as Crossover reported $13.5 billion in trading volume last year
and
closed a $12 million Series A funding round in June 2024
. The company says
momentum is accelerating among institutional investors seeking alternatives to
retail-focused crypto exchanges.

APAC Appetite Grows for
Institutional Trading

Crossover’s
ECN model borrows heavily from foreign exchange market infrastructure, offering
anonymous execution and deep liquidity pools. The platform separates trade
execution from custody, addressing counterparty risk concerns that have plagued
centralized crypto platforms.

The
company’s founders – Brandon
Mulvihill, Anthony Mazzarese, and Vladislav Rysin
– are FX veterans who
launched Crossover
in 2022. Their approach targets professional trading firms accustomed to the
speed and flexibility found in traditional currency markets.

For
institutional investors, the appeal lies in tight spreads and low-latency
execution typically missing from crypto venues dominated by retail
traders. Crossover says roughly 10% of trades on its platform are “Order
Crossing Order” transactions, where institutional flow meets institutional
flow without market maker intermediation.

Recent
partnerships underscore growing institutional adoption. Talos,
which provides trading technology for digital assets, integrated with CROSSx
last year
. GCEX Group also tapped the platform to
expand
its crypto market offerings for professional investors.

Regulatory Tailwinds Drive
Expansion

The timing
of Crossover’s APAC expansion coincides with improving regulatory clarity
across multiple jurisdictions. Singapore
has emerged as a key hub for crypto firms
seeking stable oversight, while Hong
Kong has reopened its doors to digital asset businesses.

Crossover
initially avoided the U.S. market due to regulatory uncertainty under the Biden
administration. However, Trump’s return to the White House and promises of
crypto-friendly policies have changed the company’s calculus. CEO Mulvihill
said the team began preparing for a U.S. launch following the election results.

The
regulatory thaw has reignited interest among global crypto firms that
previously steered clear of American markets. Industry observers expect more
offshore platforms to establish U.S. operations as the new administration takes
shape.

Crossover
is reportedly considering another funding round to meet growing demand. The
company’s Series A was led by Illuminate Financial and DRW Venture Capital,
providing capital to scale operations and expand geographically.

Damian Chmiel

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Damian’s adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

  • 2693 Articles
  • 81 Followers

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    Jeff Patterson of Finance Magnates interviews Kathy Lian, co-founder of BKTraders, at iFX EXPO International 2025. They discuss the explosive growth of the prop trading industry, key takeaways from her book Prop Trading Secrets, evolving funding models, the impact of regulatory scrutiny following the My Forex Funds case, and how geopolitical events are shaping forex market volatility.

    #iFXEXPO2025 #PropTrading #Forex #FinanceMagnates #TradingStrategies #Regulation #BKTraders

    📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates.

    Connect with us today:

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    Don’t miss out on our latest videos, interviews, and event coverage.
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    Jeff Patterson of Finance Magnates interviews Kathy Lian, co-founder of BKTraders, at iFX EXPO International 2025. They discuss the explosive growth of the prop trading industry, key takeaways from her book Prop Trading Secrets, evolving funding models, the impact of regulatory scrutiny following the My Forex Funds case, and how geopolitical events are shaping forex market volatility.

    #iFXEXPO2025 #PropTrading #Forex #FinanceMagnates #TradingStrategies #Regulation #BKTraders

    📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates.

    Connect with us today:

    🔗 LinkedIn: / financemagnates
    👍 Facebook: / financemagnates
    📸 Instagram: / financemagnates_official
    🐦 X: https://x.com/financemagnates?
    🎥 TikTok: https://www.tiktok.com/tag/financemag…
    ▶️ YouTube: / @financemagnates_official

    Don’t miss out on our latest videos, interviews, and event coverage.
    Subscribe to our YouTube channel for more!

  • Adam Button Talks to Finance Magnates on the ForexLive rebranding to InvestingLive


    Adam Button Talks to Finance Magnates on the ForexLive rebranding to InvestingLive

    Adam Button Talks to Finance Magnates on the ForexLive rebranding to InvestingLive


    Adam Button Talks to Finance Magnates on the ForexLive rebranding to InvestingLive

    Adam Button Talks to Finance Magnates on the ForexLive rebranding to InvestingLive


    Adam Button Talks to Finance Magnates on the ForexLive rebranding to InvestingLive

    ForexLive’s Chief Market Analyst, Adam Button, shares the story behind the most significant shift yet, the move to InvestingLive. In this exclusive interview, Adam discusses why the rebrand is happening, what it means for traders, and how our core mission remains the same: delivering fast, trusted, and intelligent market news.

    #ForexLive #InvestingLive #MarketNews #TradeCompass #OrderFlowIntel #iFXEXPO2025 #FinanceMagnates #ForexNews #TradingTools #InvestingNews


    ForexLive’s Chief Market Analyst, Adam Button, shares the story behind the most significant shift yet, the move to InvestingLive. In this exclusive interview, Adam discusses why the rebrand is happening, what it means for traders, and how our core mission remains the same: delivering fast, trusted, and intelligent market news.

    #ForexLive #InvestingLive #MarketNews #TradeCompass #OrderFlowIntel #iFXEXPO2025 #FinanceMagnates #ForexNews #TradingTools #InvestingNews

    ForexLive’s Chief Market Analyst, Adam Button, shares the story behind the most significant shift yet, the move to InvestingLive. In this exclusive interview, Adam discusses why the rebrand is happening, what it means for traders, and how our core mission remains the same: delivering fast, trusted, and intelligent market news.

    #ForexLive #InvestingLive #MarketNews #TradeCompass #OrderFlowIntel #iFXEXPO2025 #FinanceMagnates #ForexNews #TradingTools #InvestingNews


    ForexLive’s Chief Market Analyst, Adam Button, shares the story behind the most significant shift yet, the move to InvestingLive. In this exclusive interview, Adam discusses why the rebrand is happening, what it means for traders, and how our core mission remains the same: delivering fast, trusted, and intelligent market news.

    #ForexLive #InvestingLive #MarketNews #TradeCompass #OrderFlowIntel #iFXEXPO2025 #FinanceMagnates #ForexNews #TradingTools #InvestingNews

    ForexLive’s Chief Market Analyst, Adam Button, shares the story behind the most significant shift yet, the move to InvestingLive. In this exclusive interview, Adam discusses why the rebrand is happening, what it means for traders, and how our core mission remains the same: delivering fast, trusted, and intelligent market news.

    #ForexLive #InvestingLive #MarketNews #TradeCompass #OrderFlowIntel #iFXEXPO2025 #FinanceMagnates #ForexNews #TradingTools #InvestingNews


    ForexLive’s Chief Market Analyst, Adam Button, shares the story behind the most significant shift yet, the move to InvestingLive. In this exclusive interview, Adam discusses why the rebrand is happening, what it means for traders, and how our core mission remains the same: delivering fast, trusted, and intelligent market news.

    #ForexLive #InvestingLive #MarketNews #TradeCompass #OrderFlowIntel #iFXEXPO2025 #FinanceMagnates #ForexNews #TradingTools #InvestingNews

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