Liquidity Providers
OTC desks, market makers, and FX liquidity providers for stablecoin settlement.
15 companies tracked
Nasdaq-listed (AMBR). Asia-based OTC desk with AI-powered $100M crypto reserve.
Nasdaq-listed (AMBR); $25.5M placement (2025)
Multi-venue OTC + exchange execution \u00B7 USDC, USDT, BTC +1
SBI-owned institutional liquidity provider. Launched PENNY zero-fee stablecoin swap platform.
SBI-owned (90% stake)
Direct bilateral + PENNY platform \u00B7 USDC, USDT, BTC +2
Stablecoin-native L2 for payments and FX. $15.8M seed led by Dragonfly. Native USDC support.
$15.8M seed (Dragonfly-led)
Native L2 settlement \u00B7 USDC, USDT
DRW subsidiary. 24/7 OTC desk with $10B+ monthly volume. SEC lawsuit dropped in 2025.
$10B+ monthly · DRW subsidiary (privately funded)
Bilateral OTC + Marea platform \u00B7 USDC, USDT, BTC +1
Market maker and investor across 60+ exchanges. 1,000+ portfolio projects. $250M liquid fund.
$4B+ monthly derivatives peak · $250M liquid fund; $75M DeFi fund
60+ exchanges \u00B7 USDC, USDT, BTC +2
Crypto prime broker eyeing IPO. Acquired 21Shares and Arbelos in 2025. 24/7 OTC options trading.
$2T+ cumulative volume · $430M raised; valued at $8B
Multi-venue aggregation \u00B7 USDC, USDT, BTC +2
Paris-based market maker. $182M raised incl. BlackRock debt. Launching crypto credit desk.
$150M-$400M spot daily · $182M raised (incl. BlackRock debt)
150+ exchanges \u00B7 USDC, USDT, BTC +1
Nasdaq-listed (GLXY). $10B+ AUM, $505M Q3 2025 net income. Trading, lending, and staking.
$10.1B+ AUM · Nasdaq-listed (GLXY); $2.6B cash & stablecoins
Multi-venue OTC + exchange execution \u00B7 USDC, USDT, BTC +1
Crypto market maker licensed in Singapore and UK. $57M in acquisitions for token advisory.
Privately funded (no external rounds)
50+ exchanges \u00B7 USDC, USDT, BTC +1
Stablecoin FX infrastructure. $20B+ processed, 200+ institutional clients. $60M raised in 2025.
$20B+ processed lifetime · $60M raised (Series A + credit line)
Direct institutional settlement \u00B7 USDC, USDT, EUR +2
Quant trading giant and Solana core dev (Firedancer). Investing in Polymarket and Kalshi.
$1.65B+ (Jump Trading)
50+ exchanges \u00B7 USDC, USDT, DAI
Algorithmic market maker on 85+ venues. $79M raised. Expanded to NYC, acquired Turing Capital.
$79.4M raised
85+ exchanges \u00B7 USDC, USDT, BTC +1
Cross-border FX as an API. $45B+ annualized TPV. LatAm and SEA corridors, sub-10-min settlement.
$45B+ annualized TPV · $23M raised
Direct API settlement \u00B7 USDC, USDT
Top crypto market maker. $5B+ daily volume, OTC up 313% YoY. Expanding into tokenized RWAs.
$15B+ average · $56.8M raised
60+ CEXs & DEXs \u00B7 USDC, USDT, DAI +2