Crypto Market Making & Liquidity Providers

BlockFills is a financial technology and cryptocurrency trading solutions firm headquartered in Chicago, with additional offices in London, Dubai, São Paulo, and the Cayman Islands. The company provides institutional-grade trading infrastructure to participants in the cryptocurrency markets and explicitly does not serve retail investors.

Its core offerings include an electronic trading venue with API connectivity, the Vision Trader platform and Vision Core order management system, over-the-counter trading in spot, options, forwards, and structured notes, as well as Liquidity-as-a-Service, lending and borrowing facilities, prime brokerage services, and crypto-fiat on/off ramp solutions. The company serves a client base that includes exchanges, hedge funds, asset managers, proprietary trading firms, family offices, brokers, OTC desks, miners, payment processors, lending platforms, and Web3 protocols.

BlockFills integrates with institutional custody providers including Fireblocks, Zodia, and Fordefi for settlement. The firm reports serving more than 1,700 customers across more than 40 connectivity integrations, with a team of approximately 45 staff across its five global offices.

Margin UG is a Germany-based crypto trading infrastructure company that provides non-custodial market making and liquidity services. Founded in 2014 and headquartered in Bielefeld, Germany, the company operates a high-frequency trading engine built in Rust, designed for low-latency execution across more than 80 centralized and decentralized exchanges.

Margin's core services include market making, dynamic hedging, spread trading, OTC automation, and a unified API layer that connects to over 60 exchange venues from a single interface. The platform serves hedge funds, asset managers, token projects, and exchanges seeking automated liquidity management. The company reports over $300 million in monthly traded volume and more than 100 institutional clients and token projects served.

Supported exchanges include Binance, Bybit, OKX, Hyperliquid, Gate.io, Uniswap, PancakeSwap, BitMEX, KuCoin, and Bitget, among others. Margin was co-founded by Jonathan Maycock (CEO) and Christof Elbrechter (CTO), who bring backgrounds in academic research, robotics, and systems programming.

QCP Capital is a Singapore-based digital asset trading firm founded in 2017, specialising in cryptocurrency derivatives, over-the-counter (OTC) trading, and market-making services for institutional clients. The firm operates an OTC desk that offers spot trading, options, structured products, and liquidity provision across major digital assets around the clock.

Headquartered in Singapore and with offices in Abu Dhabi, QCP serves hedge funds, family offices, corporate treasuries, and high-net-worth individuals. Its in-house pricing and risk systems support derivatives market-making, volatility strategies, and stablecoin trading. QCP Trading, the entity holding a Major Payment Institution licence from the Monetary Authority of Singapore (MAS), is authorised to conduct OTC spot trading of digital payment tokens for institutional clients.

The firm offers access via a voice trading desk, API connectivity, and a Telegram-based OTC interface, with same-day settlement supported through partnerships with local banking institutions. QCP also participates in on-chain infrastructure as a data provider for decentralised oracle networks.

"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."

"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."

Wintermute is an algorithmic trading firm and liquidity provider specializing in digital assets. Founded in 2017 and headquartered in London, United Kingdom, the company operates across centralized exchanges, decentralized exchanges, and over-the-counter markets. It is registered with the Financial Conduct Authority (FCA) as a Cryptoasset firm.

The firm was founded by Evgeny Gaevoy, previously Head of ETF market-making at Optiver. Wintermute provides liquidity across more than 50 trading platforms, covering over 250 digital assets, with reported daily trading volumes exceeding five billion US dollars. Its services include market making for crypto projects and exchanges, an OTC trading desk for spot and derivatives, and NODE, an institutional trading gateway.

Wintermute also operates a ventures arm, Wintermute Ventures, which invests in early-stage decentralized finance protocols. Portfolio investments have included projects across layer-2 networks, decentralized exchanges, and DeFi infrastructure.