Crossover Markets' digital asset exchange, CROSSx, is leaving the competition in the dust, according to the company's impressive performance data for Q1 2024.

The exchange processed a whopping $3.15 billion in trading volume during the first three months of the year, solidifying its position as a major player in the ever-growing digital asset market.

But CROSSx isn't just about volume; it's also about speed. The platform boasts lightning-fast execution times, with 75% of orders acknowledged in under 7 microseconds – that's faster than the blink of an eye!

"We are thrilled to report that CROSSx is not only one of the fastest venues in the digital world, but also among the fastest-growing institutional venues," said Brandon Mulvihill, Co-Founder and CEO of Crossover Markets.

One of the features that sets CROSSx apart is its unique Order Crossing Order (OXO) functionality. This feature allows users to directly match buy and sell orders, currently accounting for 10% of all trades on the platform.

"This capability showcases the value we deliver to both market makers and takers," said Anthony Mazzarese, Co-Founder and Chief Commercial Officer of Crossover.

CROSSx also stands out with its hybrid ECN model. This model combines quote-driven and order-driven matching, giving users the flexibility to choose how they interact with the market.

"Clients can choose whether they interact with quotes or firm liquidity, or both," explained Mazzarese. "This pricing power is attracting a diverse range of participants, from institutions to market makers and retail brokers."

The surge in trading volume on CROSSx reflects a broader trend in the cryptocurrency market. Centralized exchanges (CEXs) like Binance and Bybit have all seen significant growth in recent months, with trading volumes tripling since October 2023.

However, decentralized exchanges (DEXs) like Uniswap are leading the charge, with Uniswap v3 experiencing a staggering 320% increase in trading volume during the same period.

With its focus on speed, innovation, and user choice, CROSSx is well-positioned to capitalize on the booming digital asset market and become a leader in the exchange race.