BeInCrypto Institutional Research: 15 Firms Building Crypto Trading Infrastructure

Best Institutional Trading Infrastructure is a category within the BeInCrypto Institutional 100, an annual research-driven program recognising institutional digital asset excellence across 26 categories and six pillars. This category sits under Pillar 2: Capital Markets & Infrastructure. The 15 firms below are listed alphabetically and are not ranked. A shortlist will be named in May 2026, with the winner announced at Proof of Talk in Paris on June 2–3, 2026. Key Facts Long list: 15 firms across OMS/EMS platforms, prime brokerage, OTC desks, market makers, regulated venues, off-exchange settlement, and exchange-affiliated institutional product surfaces Initial pool: More than 30 firms screened; 15 advanced to the long list Order: Listed alphabetically, not ranked Scoring: 30% quantitative data · 50% Expert Council · 20% disclosed company data Criteria assessed: Client base and volume, venue connectivity, execution quality, product breadth, regulatory licensure, settlement framework, institutional reputation, innovation signal Data sources: FCA, NYDFS, FINMA, BaFin, MAS, SFC, MiCA-CASP registers, audited filings, issuer disclosures, partnership announcements, KBRA/Kroll, PitchBook, Tracxn, and Crunchbase FirmTrading Infra Sub-SegmentHQReachTop Licensure / PlatformRepresentative WorkB2C2Institutional OTC and algorithmic executionLondon, UKSBI Holdings majority-ownedOffices in London, New York, Tokyo, SingaporeFCA, NYDFS BitLicense, Luxembourg VAEU MiFID framework24/7 OTC across spot, derivatives, and structured productsLaunched Solana stablecoin settlement infrastructureBinance InstitutionalExchange-affiliated institutional surfaceDubai, UAELargest crypto exchange by global volumeSAFU reserves above $1BVARA Dubai licenceMulti-jurisdiction VASP footprintOTC desk, broker program, custody integrations, and liquidity programsInstitutional surface assessed; retail exchange core excludedBitgetExchange-affiliated institutional surfaceSeychelles120M+ users at parent levelG...