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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

CrossTower ranked among the top four global exchanges in Exchange Benchmark Report published by ...

August 23, 2021 GMT
CrossTower ranked among the top four global exchanges in Exchange Benchmark Report
CrossTower ranked among the top four global exchanges in Exchange Benchmark Report
CrossTower ranked among the top four global exchanges in Exchange Benchmark Report

New York, NY, Aug. 23, 2021 (GLOBE NEWSWIRE) -- CrossTower, one of the world’s fastest growing crypto investment and trading firms, today announced it has received an AA ranking from crypto-asset data provider CryptoCompare in its August 2021 Exchange Benchmark report. CrossTower joins crypto industry leaders CoinBase, Gemini, Kraken, Bitstamp and itBit to receive this highest level ranking based on CrossTower’s strength at minimizing counterparty, operational, trading and security risks.

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Kristin Boggiano, President and Co-Founder of CrossTower said, “We are pleased that our commitment to institutional standards is being recognized by the global leader in digital asset data. The AA ranking is the highest possible score, setting us apart from more than 152 exchanges reviewed.” 

The CryptoCompare Benchmark Report identifies the lowest risk global spot exchanges in the industry.  CryptoCompare’s ranking methodology is based on objective analysis using a combination of qualitative and quantitative metrics to assess eight different categories of evaluation: 

  • Team/Exchange
  • Asset Quality/Diversity
  • Market Quality
  • Negative Events Penalty
  • Legal/Regulation
  • KYC/Transaction Risk
  • Data Provision
  • Security

Rankings range from AA-E, with the top-tier AA designation reserved for the lowest-risk exchanges that adhere to the highest standards.  According to a CryptoCompare press announcement, the number of exchanges to rank in the AA-A category decreased due to stricter threshold requirements.  Six global exchanges received a AA rating, and nine global exchanges met AA-A status compared to 24 in CryptoCompare’s February 2021 report.

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Kapil Rathi, Chief Executive Officer and Co-Founder of CrossTower said, “Our clients already recognize our efforts to push the limits of what’s possible with crypto by offering best-in-class products and services but also rigorous safeguards that are ushering the future of finance. Receiving this recognition from CryptoCompare, an independent crypto data analysis leader, is immensely rewarding.” 

Charles Hayter, Co-Founder and CEO of CryptoCompare said, “CryptoCompare’s biannual Exchange Benchmark assesses the risk associated with digital asset exchanges across eight categories of evaluation. Since its creation in 2019, it has become an industry standard for evaluating digital asset exchanges. I would like to congratulate CrossTower on their AA ranking, the highest grade achievable which is awarded exclusively to the lowest risk trading venues.”

CrossTower has continued to expand its risk management bench strength, recently announcing the hires of Jeffrey Blockinger as Chief Legal Officer and Cory Thackeray as Chief Financial Officer.

To review the report’s findings and methodology go to Exchange Benchmark.

ABOUT CROSSTOWER

Founded in 2019, CrossTower is a multi-asset investment and trading firm that empowers smart money to push the limits of what is possible with crypto. CrossTower launched its trading platform in 2020, and in 2021 introduced a capital markets desk with best-in-class services and products tailored to the needs of demanding traders and institutions alike, including hedge funds, family offices and other market participants. CrossTower has leveraged its vast experience in trading, technology, operational infrastructure, innovative pricing, regulations and compliance to make crypto and digital assets accessible to discerning retail and sophisticated institutional market participants and has received the highest(AA) ranking from CryptoCompare in the latest Exchange Benchmark.

For more information, visit www.crosstower.com.

 

ABOUT CRYPTOCOMPARE

CryptoCompare is a global leader in digital asset data providing institutional and retail investors with real-time and historical data spanning 5,500+ coins and 250,000+ currency pairs. By aggregating and analysing tick data from globally recognised exchanges and seamlessly integrating multiple datasets, CryptoCompare offers a comprehensive, granular overview of the market across trade, order book, historical, social and blockchain data.

For more information, visit data.cryptocompare.com.

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Loretta Mock Rally Point 646 726 7886 Loretta.mock@rallypoint.pr Alissa Ostrove CryptoCompare press@cryptocompare.com Bergen Sanderford CrossTower bergen.sanderford@crosstower.com