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Lang & Schwarz Logo
Lang & Schwarz TradeCenter AG & Co. KG
Lang & Schwarz TradeCenter AG & Co. KG is a German market maker and systematic internaliser headquartered in Düsseldorf, providing OTC liquidity and pricing to approximately 20 partner banks including Trade Republic, Flatex, and Scalable Capital. The company operates the leading off-exchange trading platform in Germany, covering stocks, ETFs, bonds, funds, and crypto assets with extended trading hours. It holds a MiCA CASP authorisation, enabling it to provide regulated crypto-asset services across the EU.

"BlockFills is a disruptive technology firm dedicated to the provision of bespoke end-to-end solutions to participants in the cryptocurrency market worldwide."

GCEX Logo
GC Exchange A/S
GCEX (GC Exchange A/S) is a regulated digital prime brokerage serving exclusively institutional and professional clients, including hedge funds, asset managers, family offices, and brokers, with access to forex, crypto CFDs, spot digital assets, and OTC liquidity without B-Book risk. The firm holds licences from the UK FCA, Dubai VARA, and a MiCA CASP authorisation granted by the Danish Financial Supervisory Authority in December 2025, enabling regulated crypto-asset services across EU member states.
Legend Trading Logo
Legend Financial Ireland Limited
Legend Trading is a global digital asset financial services firm founded in 2019, specialising in institutional OTC trading, fiat-to-crypto payment solutions, stablecoin-to-fiat settlement, and liquidity management for brokerage firms, investment advisors, family offices, and corporations. Its European entity, Legend Financial Ireland Limited, holds a MiCA Crypto Asset Service Provider (CASP) authorisation granted by the Central Bank of Ireland, enabling passported services across all 27 EU member states.
EUWAX AG Logo
EUWAX Aktiengesellschaft
EUWAX Aktiengesellschaft is a Quality Liquidity Provider (QLP) and market maker subsidiary of Boerse Stuttgart Group, acting as the institutional counterparty on the back end of retail crypto trades executed via the BISON app and the Boerse Stuttgart Digital Exchange (BSDEX). The company holds a MiCA CASP authorisation issued by BaFin (Germany) on 1 April 2025, covering crypto-to-fiat exchange, crypto-to-crypto exchange, and order execution services. Founded in 1991 and publicly listed since 2000, EUWAX AG also provides liquidity across structured securities, bonds, and ETPs on Boerse Stuttgart, NGM, and BX Swiss.
Keyrock Logo
Keyrock FR SAS
Keyrock is a professional digital asset market maker and liquidity provider, offering algorithmic market making, OTC trading, options desk, onchain liquidity, and institutional asset and wealth management services across more than 85 centralised and decentralised venues worldwide. Founded in 2017 and operating globally with a team of over 220 across 37 countries, the company serves institutions and corporations navigating digital asset markets. Keyrock FR SAS holds a MiCA CASP authorisation granted by the AMF (Autorité des Marchés Financiers) in France, enabling EU-wide passporting of its services.

"Who We Are

Since our founding in 2017, we have witnessed the potential of crypto assets to transform financial markets and the world at large.

We exist at the centre of change, bridging institutional and crypto ecosystems. We work to catalyse a cycle of progress, to ultimately shape a better financial system for generations to come.

We are forging the industry ahead, supporting a community of institutions, builders and innovators by ceaselessly powering them with liquidity and scale."

Tradias Logo
tradias GmbH
tradias GmbH is the institutional digital assets arm of Bankhaus Scheich, providing regulated OTC principal desk, market making, and tokenization services exclusively to banks, neobrokers, asset managers, and other institutional clients. The company holds a BaFin securities trading bank licence and a MiCA CASP authorisation covering the execution of crypto-asset orders, transfer services, and placement services under MiCAR.
Acheron Trading Logo
Acheron Europe B.V.
Acheron Trading is an institutional crypto market maker and liquidity provider offering principal market making, designated market making, managed execution, and Command Station software licensing to over 400 digital asset issuers worldwide. The company holds a MiCA CASP authorisation from the Dutch Authority for the Financial Markets (AFM), becoming the first dedicated crypto market maker to obtain a CASP licence under MiCA in the EU. Through its European passport, Acheron Europe B.V. is authorised to provide crypto-asset services across all 27 EU member states.
RULEMATCH Logo
RULEMATCH Europe AG
RULEMATCH Europe AG operates an institutional interbank crypto trading, clearing and settlement venue exclusively for banks, investment firms, and regulated financial institutions. The platform uses Nasdaq matching-engine technology and provides flexible settlement with Delivery vs Payment (DvP) to eliminate counterparty risk, never acting as a counterparty or market maker. RULEMATCH Europe AG holds a MiCA CASP authorisation granted by the Financial Market Authority (FMA) of Liechtenstein in June 2026.

"WE MAKE MARKETS

IN DIGITAL ASSETS LIQUID AND EFFICIENT

Wintermute is a leading global algorithmic market maker in digital assets. We create liquid and efficient markets on centralized and decentralized trading platforms and off-exchange."

3DX Logo
3DX
360 Treasury Systems AG
3DX is an institutional-only, wholesale crypto-asset trading platform operated by 360 Treasury Systems AG, a Deutsche Boerse Group company headquartered in Frankfurt, Germany. It offers spot trading and non-deliverable forwards (NDFs) for crypto-assets exclusively to banks, broker-dealers, asset managers, hedge funds, and other eligible professional counterparties across the EU and EEA. 360 Treasury Systems AG holds a MiCA CASP authorisation from BaFin, the German financial regulator, to operate the platform under the Markets in Crypto-Assets Regulation.

"Our Founding Partners, including Akuna’s CEO Andrew Killion, first conceptualized Akuna in their hometown of Sydney. They opened the firm’s first office in 2011 in the heart of the derivatives industry and the options capital of the world – Chicago. Today, Akuna is proud to operate from additional offices in Sydney, Shanghai, Boston, London and Austin.

Akuna Capital is a proprietary trading firm specializing in derivatives market making and sophisticated modeling with a commitment to cutting-edge technology.

We are the leading options market maker to successfully enter the industry in recent years with sustainable growth. By providing more liquidity to the markets through rapid innovation, we have the advantage of youth in remaining nimble and agile in an ever-changing competitive landscape.

Akuna has no clients or external investors, we trade only with the company’s capital. We have dozens of employee shareholders and this number continues to grow.

We are really proud of what we have accomplished since inception, but even more excited for all that lies ahead of us. We are still building, accessing new markets, trading new products and creating new strategies, giving you the opportunity to be involved in shaping the future of Akuna. Indeed, the great majority of Akuna’s growth profile is ahead of us."

"Transparent and Trusted Market Making and Liquidity Services

We ensure your token remains liquid across multiple markets while you concentrate on growing your project!"

Hyphe Logo
Hyphe Markets GmbH
Hyphe Markets GmbH is a B2B institutional digital asset liquidity provider that gives banks, brokers, and asset managers API access to a proprietary liquidity pool for trading digital assets and tokenised securities via its Prime-Access product. The company holds a MiCA CASP authorisation granted by the German regulator BaFin in November 2025, alongside a WpIG investment firm licence, and plans to use EU passporting rights to expand its services across Europe.
sFOX Logo
sFOX, Inc.

"The sFOX story - Building the nexus of global liquidity

In 2014, sFOX’s founders observed immense fragmentation and complexities in crypto. Having built five trading platforms in the equities markets—including UNX and Nuveen Investments—they saw a need for a platform that integrated the crypto ecosystem via a single point of access, resolving inefficiencies and pooling liquidity from global sources.

The resulting platform is sFOX, the scalable solution for institutional crypto trading. Built entirely in-house with proprietary technology, sFOX’s seamless and secure infrastructure makes it easier for professionals to trade digital assets, realize price savings, and achieve efficiencies, ushering in a new era of possibilities in crypto."

About Market Making & Liquidity?
Market making and liquidity providing are essential services in the blockchain space. Market makers are firms or individuals that provide liquidity to digital asset exchanges by filling the order book on both the buy and sell sides. By doing so, they make it easier for other traders to buy and sell assets and increase the overall liquidity of the market. Algorithmic market makers use automated strategies to provide liquidity on exchanges and are becoming increasingly popular in the digital assets space. They offer various services, such as quoting prices, liquidity, and arbitrage trading. These services help create a more efficient and liquid market for digital assets.

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Illustration of a Bluetooth mesh network of connected nodes representing BitChat decentralized messaging
Blockchain Explained

What Is BitChat?

Key Takeaways BitChat is a decentralized messaging app that works over Bluetooth mesh networks with no internet connection, phone number,