Leading Marketmaker Caladan Taps Finery Markets as Its Infrastructure Partner - U.Today

• Caladan team up with Finery Markets, integrates ECN platform
• Supporting institutional crypto services with battle-tested infrastructure Caladan, a leading institutional digital asset trading firm with over $170 billion in annual volume, has shared the details of its collaboration with Finery Markets as its infrastructure partner. New partnership will expand Caladan's services to 35 countries and regions across the globe.

Caladan team up with Finery Markets, integrates ECN platform

Caladan, a tier-1 global cryptocurrency trading firm with institutional focus, has entered into a long-term strategic collaboration with Finery Markets, a provider of SaaS infrastructure for the trading and liquidity provision segment.

Through this partnership, Caladan will utilize Finery Markets’ ECN technology to deliver institutional-grade liquidity services at scale. The integration enables Caladan to distribute prices across multiple venues through Finery Markets’ hybrid infrastructure, which supports RFQ, order book and quote stream trading methods in a noncustodial environment.

Finery Markets currently supports over $50 billion in annual volume, connecting institutional clients to more than 1,000 digital assets and 70 global exchanges. The firm’s most recent H1, 2025, OTC market report highlighted notable growth trends, including a 57.6% increase in total deal count alongside the spike in overall trading volume.

Konstantin Shulga, CEO of Finery Markets, welcomes his new partner and outlines potential ares for strategic synergy:

We are excited to welcome Caladan to our expanding network. 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 move follows a significant uptick in global over-the-counter (OTC) crypto activity, which grew by 112.6% in the first half of 2025.

Supporting institutional crypto services with battle-tested infrastructure

Julia Zhou, COO at Caladan, is excited by the opportunities Finery Markets' products unlock for her company's stack of instruments for institutions:

At Caladan, we’re focused on building the next-generation liquidity infrastructure for institutional crypto trading. 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.

Caladan supports exchanges, tokens and institutional investors with on-exchange liquidity, DeFi expertise, treasury solutions and investments.

Since 2017, it has been a pioneer in crypto market-making, powering over $170 billion in annual transactions across 1,000+ assets.