Institutional digital asset trading technology firm and ECN operator Crossover Markets, fresh off a $31 million capital raise, has announced that the company has hired longtime Euronext FX executive Jayesh (Jay) Patel, as its new Global Head of Markets.

Jay Patel, who is based in New York, had been with Euronext FX for the past 14 years, ending his tenure at Euronext FX as Head of Product.

Crossover Markets is a digital asset trading technology firm focused on meeting the unique liquidity requirements of institutions in the cryptocurrency markets. CROSSx, the company’s execution-only cryptocurrency Electronic Communication Network (ECN), is powered by the industry’s fastest and most advanced matching engine and includes order logic that enables clients to choose with whom they want to trade. Led by a team with decades of FX trading, prime brokerage technology and artificial intelligence experience, Crossover is ushering in the next big wave of institutions in the crypto market. Crossover is run by former FXCM Pro head, Co-Founder and CEO Brandon Mulvihill.

Crossover Markets said in a statement,

We are pleased to welcome Jayesh Patel as Global Head of Markets at Crossover Markets, where he will lead liquidity analytics and drive optimization of the client experience across CROSSx. Jay brings a distinguished career across technology, sales, and liquidity management. Most recently, he served as Head of Product at Euronext FX and a member of its management board, where he spent 14 years.

We’re excited to appoint Jay following a milestone year for Crossover, including our $31 million Series B fundraise led by Tradeweb, the launch of CROSSx 2.0, over 100 live participants with more than 1,440 independent CROSSx sessions deployed, an expanded suite of new order types, and a broader global trading infrastructure following the launch of Equinix NY4 – all while CROSSx executes trades in single-digit microseconds.

As institutional participation in digital assets continues to scale, Jay’s expertise in liquidity management and FX market structure will be instrumental in further reinforcing our position as the institution-only venue built for performance, transparency, and execution quality.