Caladan Integrates with Finery Markets ECN After 112% Surge in OTC Volumes

• Global OTC crypto trading volumes surged 112.6% in H1 2025.
• Caladan’s integration with Finery Markets’ ECN expands its liquidity distribution across 35+ countries.

Institutional trading firm Caladan has integrated with Finery Markets’ electronic communication network (ECN) to expand its reach across more than 35 countries. This happened at a time when global over-the-counter (OTC) crypto activity jumped 112.6% in the first half of 2025, according to Finery Markets’ latest report.

Caladan, which processes over $170 billion in annual trading volume, is a leading player in institutional digital asset markets. By leveraging Finery Markets’ hybrid infrastructure, the firm will strengthen its ability to distribute prices across multiple venues and scale its liquidity services.

The partnership gives Caladan access to Finery Markets’ ECN technology, which supports three trading methods. They include request-for-quote (RFQ), order book, and quote stream. All operate in a non-custodial environment, ensuring security and transparency for institutions.

Finery Markets currently processes more than $50 billion in annual volume. Its platform connects clients to over 1,000 digital assets and 70 global exchanges, offering institutions a broad and resilient trading network.

OTC Demand Increase 

Finery Markets’ H1 2025 report showed a 57.6% rise in deal count, alongside more than doubling in overall trading volume. With this, a sharp increase in institutional demand for flexible liquidity solutions is likely to follow. Speaking on the integration, Konstantin Shulga, CEO of Finery Markets, said:

“We are excited to welcome Caladan to our expanding network. Their mix of traditional finance expertise and long-term crypto vision fits perfectly with our mission. Together, we can accelerate institutional adoption with reliable and scalable technology.”

Caladan’s leadership sees the deal as a cornerstone of its global growth strategy. Julia Zhou, COO at Caladan, explained, saying the “goal is to build next-generation liquidity infrastructure for institutional crypto trading.”  She also noted that by integrating Finery Markets’ ECN, Caladan can scale its price distribution instantly and strengthen its OTC presence worldwide.

About the Firms Caladan and Finery Markets 

Caladan has been active since 2017, providing exchanges, tokens, and institutional investors with liquidity solutions, treasury management, and DeFi expertise. The firm now powers $170 billion in annual transactions across more than 1,000 assets.

Finery Markets operates a non-custodial ECN and provides trading SaaS solutions tailored for institutional clients. Its infrastructure supports secure and transparent digital asset operations in more than 35 countries.