Caladan, a crypto market maker that does over $170B in annual volume, announced on Thursday that it has chosen Finery Markets as its infrastructure partner to expand institutional access to digital asset liquidity across 35 countries.
The partnership follows a 112.6% surge in global crypto OTC activity during H1 2025.
Finery Markets’ technology now underpins institutional-focused liquidity provision for a $170B annual trading volume business across 1,000+ digital assets and 70+ global exchanges.
“We are excited to welcome Caladan to our expanding network,” said Konstantin Shulga, Finery Markets CEO.
“Their blend of deep TradFi expertise and a crypto-native, long-term vision perfectly aligns with our mission to make the digital asset space truly institution-ready. Caladan’s strategic global expansion, amplified by positive regulatory tailwinds, marks a pivotal moment, enabling us to collaboratively deploy our institutional-grade technology to accelerate business growth and unlock new opportunities in the OTC crypto markets.”
The partnership positions both firms to capitalise on the burgeoning OTC crypto markets, which in H1 2025 saw a remarkable 112.6% surge in total trades and a 57.6% uptick in total deals, as reported in a recent H1 2025 crypto OTC review by Finery Markets.
Finery Markets is the first—and remains the only—crypto ECN technology provider offering an all-in-one institutional infrastructure with RFQ, order book, and quote stream trading methods in place. Through a streamlined go-to-market setup, Caladan will experience seamless price distribution to institutional counterparties in 35 countries.
“At Caladan, we’re focused on building the next-generation liquidity infrastructure for institutional crypto trading,” said Julia Zhou, COO at Caladan. “Finery Markets’ ECN technology allows us to instantly scale price distribution and deepen our presence across OTC venues globally. This partnership is a deliberate step in our broader expansion strategy to redefine how institutions access reliable, multi-venue digital asset liquidity.”
