Jersey City, NJ, June 10, 2020 (GLOBE NEWSWIRE) -- CrossTower, a new exchange operator on a mission to mainstream digital asset investing and trading, today announced it has been selected to join the Crypto Rating Council (CRC) as its newest member. The CRC is a member-owned and operated organization committed to the responsible growth and maturation of cryptocurrency markets and related financial infrastructure and trading services.
CrossTower joins 11 other industry leaders, including founding member Coinbase as well as industry pioneers like Cumberland, Anchorage and Genesis Global Trading in the CRC’s mission to provide a more systematic U.S. securities law analytical framework for crypto assets. CRC members are committed to the responsible growth of crypto asset markets and share a belief that practical compliance tools can accelerate the growth of the industry.
The multi-asset CrossTower trading platform was founded by capital markets veterans and methodically built for institutional and individual investors with best-in-class safeguards, services and capabilities to make the next-generation financial markets a reality. The exchange currently supports highly active order books and tight spreads for crypto-to-crypto trading in the five most widely traded currencies: Bitcoin, Ether, LiteCoin, USDC, Bitcoin Cash and ZCash. CrossTower plans to introduce additional assets and services later this year.
“We are honored to have been selected to join the CRC and look forward to increasing visibility, promoting standards, and contributing to the safe and orderly growth of the digital asset industry,” said CrossTower Co-Founder and President Kristin Boggiano.
The CRC confers ratings across widely held crypto assets, with the lowest CRC score of 1 indicating an asset that has few or no characteristics that justify treatment as a security while a score of 5 indicates characteristics strongly consistent with treatment under U.S. securities law. Since its launch and the initial publication of 20 asset scores last fall, the member owned and operated CRC has made steady progress engaging the developer community, recruiting reputable and expert industry members, and producing additional asset scores.
ABOUT CROSSTOWER
Founded in 2020, CrossTower is an exchange operator founded by capital markets veterans on a mission to mainstream digital asset trading and investing. We have built a multi-asset platform for institutional and individual investors with best-in-class safeguards, services and capabilities to make the next-generation financial markets a reality. CrossTower has methodically built its platform, leveraging its trading experience, technology, operational infrastructure, innovative pricing as well as regulatory and client service models, to ensure the success of the exchange at launch and well into the future. For more information, visit www.crosstower.com.
ABOUT CRYPTO RATING COUNCIL (CRC)
The Crypto Rating Council is a diverse group of leading crypto businesses committed to the responsible growth and maturation of cryptocurrency markets and related financial infrastructure and trading services. Our members share a belief that practical compliance tools can help cryptocurrency exchanges, custodians, trading desks, investment firms, and other financial services providers support the growth and adoption of this important asset class and related blockchain technologies in the U.S. and around the world. For more information, visit www.cryptoratingcouncil.com.