CrossTower, a new exchange operator, has launched a multi-asset trading platform, built methodically for institutional and individual investors with safeguards, services, and capabilities to include digital asset investing and trading in the mainstream.
CrossTower’s controlled launch began in April and live trading has continued since then with a select group of individuals and firms. The CrossTower exchange will initially support crypto-to-crypto trading in the five most widely-traded currencies: Bitcoin, Ether, LiteCoin, Bitcoin Cash, and ZCash.
CrossTower’s co-founder and CEO Kapil Rathi is an exchange veteran who has built security exchanges from the ground up and introduced multiple innovative products in electronic trading. He has held senior leadership roles at the Chicago Board Options Exchange, Bats Global Markets, International Securities Exchange, and the New York Stock Exchange. Prior to founding CrossTower, Rathi was the chief operating officer at AlphaPoint.
“We are excited to apply our deep knowledge of the institutional markets from a technology, security, regulatory, pricing and service perspective to digital assets and crypto,” says Rathi.
“We have assembled a seasoned senior team and trusted industry partners who share our passion to help the global financial industry evolve thoughtfully and strategically.”
CrossTower brings five distinct qualities to the digital asset markets:
- An Institutional Experience – senior team members have spent their careers building and running traditional trading platforms and thus institutions will find their experience with CrossTower familiar.
- Overall Low Cost of Trading – a competitive and innovative pricing model along with technology to help customers achieve best execution by minimising implicit and opportunity costs.
- Liquidity Out of the Gate – partnerships with leading market makers that will offer deep liquidity and tight spreads.
- Regulatory Safeguards – built with rigorous security and regulatory safeguards.
- Robust Technology – low latency, high throughput matching engine supports a wide range of innovative order types and co-location services help users achieve lightning-fast trading speed.
CrossTower co-founder and president Kristin Boggiano is a structured products, regulatory, and digital asset expert who brings over 20 years of experience in capital markets on the buy-side and sell-side. Prior to founding CrossTower, Boggiano was a chief legal officer of AlphaPoint, managing director of an algorithmic trading platform at Guggenheim, and special counsel at Schulte Roth, where she founded the Structured Products and Derivatives division and lead the regulatory group for Dodd Frank. Boggiano also founded the Digital Asset Legal Alliance and Women in Derivatives.
Boggiano believes the adoption of digital assets is imminent and will be accelerated by the current global pandemic. “For me, the exciting part of launching an exchange is being able to offer deep liquidity, excellent risk management, rigorous safeguards and a platform that provides a level playing field,” Boggiano adds.
“The rate of technological change is accelerating, and historically, technology has been a catalyst for major paradigm shifts in the concept of money. I am passionate to be part of building the digital asset infrastructure that can impact people around the world.”