Liquid Mercury
Liquid Mercury provides institutional digital asset trading infrastructure—Mercury Pro (multi-venue execution), Mercury OTC (electronic OTC), and Mercury RWA (tokenized asset marketplace)—serving trading desks, market makers, OTC brokers, and RWA issuers from Chicago.
- Company typePrivate
- Founded2016
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Liquid Mercury does
Liquid Mercury provides institutional digital asset trading infrastructure through three integrated products: Mercury Pro (multi-venue execution with smart order routing and real-time risk controls), Mercury OTC (24/7 electronic RFQ/RFS replacing voice and chat-based OTC workflows), and Mercury RWA (secondary marketplace for tokenized assets with DvP settlement via BitGo and embedded KYC/AML compliance). The platform is built from the ground up for digital assets rather than retrofitted from equity systems, using NUMA-optimized lock-free data structures, kernel bypass networking with zero-copy optimization, and a distributed in-memory database with runtime schema. The architecture supports sub-500ns quote latency and 10M+ messages per second throughput across FIX, REST, Binary, and WebSocket APIs.
Liquid Mercury firmographics
Firmographics- Name
- Liquid Mercury
- Legal name
- Option Technologies Solutions International, LLC
- Website
- https://liquidmercury.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Liquid Mercury provides institutional digital asset trading infrastructure—Mercury Pro (multi-venue execution), Mercury OTC (electronic OTC), and Mercury RWA (tokenized asset marketplace)—serving trading desks, market makers, OTC brokers, and RWA issuers from Chicago.
- Ownership category
- akta.pro rank
Liquid Mercury industry classification
Industry- Product category
- Institutional Digital Asset Trading Infrastructure
- NAICS
- Securities and Commodity Exchanges (523210)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Liquidity Infrastructure (RFQ, order-book engines, matching, liquidity-as-a-service) (FSAPADAI)
- akta.pro secondary industries
- Institutional Multi-Asset Trading Platforms (OTC/RFQ) (FSAFAEAB), RFQ & Request-for-Stream Trading Platforms (FSAFANAJ), Market Making & Liquidity Provision (FSADAJAC)
Keywords
Where Liquid Mercury is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Liquid Mercury business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Platform/Subscription Licensing: Subscription-based access to Mercury Pro, Mercury OTC, and Mercury RWA platforms. Modular pricing allows institutions to start with one product and expand. White-label arrangements with platform partners contribute to this stream.
- Transaction/Trading Fees: Transaction-based fees on digital asset trades executed through the Mercury infrastructure. Applicable across Mercury Pro execution, Mercury OTC RFQ/RFS flows, and Mercury RWA secondary market trading.
- White-Label OEM Licensing: Full-stack white-label infrastructure licensing to RWA platform partners (Annex, CVP, dVIN Labs, Stratofied) who deploy Liquid Mercury infrastructure under their own brand. Includes marketplace infrastructure, ledger systems, compliance layer, tokenization rails, and strategic services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise quote-based pricing |
Go-to-market motion3 records
Distribution channels2 records
Marketing channels6 records
Liquid Mercury product offering
Product offeringCore offering
Liquid Mercury provides institutional-grade digital asset trading infrastructure through three modular software products: Mercury Pro (multi-venue execution tools with smart order routing), Mercury OTC (electronic 24/7 over-the-counter trading replacing voice-based workflows), and Mercury RWA (secondary marketplace for tokenized real-world assets with DvP settlement). The platform is offered via enterprise subscriptions and white-label OEM licensing to RWA platform partners.
Product overview
Liquid Mercury is a modular platform for institutional digital asset infrastructure, consisting of three integrated products: Mercury Pro (execution management system for multi-venue trading with smart order routing and real-time risk controls), Mercury OTC (electronic over-the-counter trading with 24/7 automated RFQ/RFS capabilities replacing voice-based trading), and Mercury RWA (secondary marketplace for tokenized real-world assets with DvP settlement and institutional compliance). These three products share the same data model, permissions, and operational controls, allowing teams to start with one entry point and expand without re-architecting their stack. The platform integrates with major exchanges, custodians, and liquidity providers including BitGo, Coinbase, Fireblocks, Binance, Kraken, and others.
Differentiator
Problem solved
Functional benefit
Brands
- Mercury Pro: Advanced execution tools for digital asset trading across multiple venues with real-time risk controls. Features multi-exchange connectivity, smart order routing, real-time market data aggregation, and portfolio and position management.
- Mercury OTC
- Mercury RWA
- MERC
Products and services
- Mercury Pro Advanced execution tools for digital asset trading across multiple venues with real-time risk controls. Features multi-exchange connectivity, smart order routing, real-time market data aggregation, and portfolio & position management. Designed for institutional trading desks, hedge funds, proprietary trading firms, family offices, and crypto institutions.
- Mercury OTC Electronic OTC trading infrastructure that replaces voice and chat-based OTC trading with fully automated, 24/7 operation. Features automated RFQ/RFS quoting, multi-dealer pricing models, integrated compliance chat, and white-label readiness. Built for professional market makers, liquidity providers, and OTC desks.
- Mercury RWA Secondary markets for tokenized assets providing continuous price discovery, DvP settlement with BitGo, and compliant institutional access. Features tokenized asset marketplace, institutional EMS/OMS, and embedded KYC/AML compliance. Built for RWA issuers, tokenization platforms, and marketplaces seeking institutional-grade secondary trading infrastructure.
Quantifiable outcome
- K33 scaled OTC operations 5x on Liquid Mercury
- +2 more outcomes
Companies that use Liquid Mercury
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
Liquid Mercury technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration20 records
Feature6 records
Liquid Mercury partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered core.
- BitGocoreBitGo Inc. and BitGo Bank & Trust, N.A. serve as Liquid Mercury's Crypto-as-a-Service provider across all products (Mercury Pro, Mercury OTC, Mercury RWA). BitGo provides qualified custody and OCC-regulated compliance, including DvP settlement for Mercury RWA tokenized asset marketplaces. BitGo is also listed as an integrated venue/custodian partner on the main website.
- B2C2coreListed as integrated venue and liquidity source. B2C2 is a liquidity provider and OTC counterparty integrated with Liquid Mercury's institutional trading infrastructure.
- FireblockscoreListed as integrated venue/custodian partner. Fireblocks provides digital asset custody and transfer network connectivity for institutional clients on the Liquid Mercury platform.
- CoinbasecoreListed as integrated venue/custodian partner. Coinbase is a digital asset exchange and custody provider integrated with Liquid Mercury's infrastructure.
- CumberlandcoreListed as integrated venue/custodian partner. Cumberland is a digital asset OTC trading and liquidity provider integrated with Liquid Mercury.
- WintermutecoreListed as integrated venue/custodian partner. Wintermute is an algorithmic market maker integrated with Liquid Mercury's trading infrastructure.
- KrakencoreListed as integrated venue/custodian partner. Kraken is a digital asset exchange integrated with Liquid Mercury. Per MiCAR white paper, Kraken is the trading platform where MERC token admission to trading is sought.
- BinancecoreListed as integrated venue/custodian partner. Binance is a digital asset exchange integrated with Liquid Mercury's infrastructure.
- BybitcoreListed as integrated venue/custodian partner. Bybit is a digital asset derivatives exchange integrated with Liquid Mercury.
- DeribitcoreListed as integrated venue/custodian partner. Deribit is a digital asset options and futures exchange integrated with Liquid Mercury.
- GenesiscoreListed as integrated venue/custodian partner. Genesis is a digital asset lending and trading provider integrated with Liquid Mercury.
- AnnexcoreWhite-label partnership where Liquid Mercury provides full infrastructure stack for Annex's tokenized electronics returns marketplace. LM provides matching engine, order management, ledger systems, payment processing, custody integration, tokenization rails, regulatory compliance, and enterprise backend. Annex focuses on reverse logistics, refurbishment, and manufacturer relationships.
- Champion Venture Partners (CVP)coreWhite-label partnership powering CVP's sports-focused investment marketplace. Liquid Mercury provides matching engine, ledger systems, white-labeled UI/UX, trading bots, Liquidity as a Service (LaaS), tokenization and RWA rails, regulatory advisory, business development support, and custody. CVP, founded by NFL player Marques Colston and MMA fighter Nick Edwards, enables sports investing starting at $500 minimum.
- dVIN LabscoreWhite-label partnership where Liquid Mercury's infrastructure powers the global order book for trading tokenized wine on the dVIN Protocol. Part of Liquid Mercury's 2025 press release announcing the investment-grade wine trading platform.
- StratofiedcoreWhite-label partnership providing full infrastructure stack for Stratofied's tokenized student loan participation marketplace. LM provides marketplace infrastructure, white-labeled UI/UX, core trading infrastructure, third-party servicer integrations, financial infrastructure (ledger, payment processing, custody), regulatory and compliance layer, tokenization and RWA rails, enterprise backend, and strategic business development support.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Liquid Mercury competitors and assessment
Company assessmentDirect peers
- CoinRoutes: CoinRoutes offers institutional crypto trading infrastructure including smart order routing, algorithmic execution, and aggregated liquidity across venues. Targets similar institutional trading desks as Mercury Pro with comparable execution and routing capabilities.
- AlphaPoint: AlphaPoint provides white-label digital asset trading infrastructure and marketplace technology to exchanges, brokerages, and tokenization platforms. Directly comparable to Liquid Mercury's white-label OEM business line for RWA marketplaces and exchange operators.
- Securitize: Securitize provides tokenization infrastructure and a secondary marketplace for digital securities and tokenized real-world assets. Directly comparable to Mercury RWA in serving issuers seeking institutional-grade secondary market infrastructure with compliance and custody integration.
- Wintermute: Wintermute is a leading algorithmic market maker in digital assets providing OTC liquidity and trading infrastructure across centralized and decentralized venues. Functions both as a partner/integrated liquidity source on Liquid Mercury and as a competing infrastructure provider for institutional OTC flow.
- Finery Markets: Finery Markets provides an institutional crypto ECN and OTC trading infrastructure with multi-dealer RFQ workflows. Cited as the source of Liquid Mercury's '109% YoY OTC growth' market data, Finery is a direct competitor in electronic OTC and RFQ infrastructure for institutional desks.
- Talos: Talos provides institutional-grade digital asset trading infrastructure including an OMS, smart order routing, and connectivity to multiple venues and liquidity providers. It is the closest direct competitor to Mercury Pro, targeting the same institutional trading desk and OTC client base with comparable technology positioning.
- FalconX: FalconX operates an institutional digital asset trading and prime brokerage platform offering execution, credit, and custody for institutions. Comparable to Liquid Mercury's Mercury Pro and Mercury OTC in serving hedge funds, OTC desks, and market makers with electronic execution infrastructure.
- B2C2: B2C2 is a leading institutional crypto liquidity provider and OTC counterparty offering electronic pricing and settlement. Listed as an integrated venue partner on Liquid Mercury's website, it is also a direct competitor in institutional OTC trading and liquidity provision.
Broad incumbents
- Galaxy Digital: Galaxy Digital is a diversified institutional digital asset firm offering trading, asset management, mining, and venture services. Overlaps with Liquid Mercury in institutional execution and OTC trading, but operates as a much larger diversified crypto financial services franchise.
- Coinbase Prime: Coinbase Prime is the institutional brokerage and trading platform from Coinbase, offering custody, execution, and prime services to institutional clients. A direct competitor and integrated venue partner, Coinbase Prime benefits from the broader Coinbase balance sheet and exchange liquidity.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Liquid Mercury social profiles
Digital presenceLiquid Mercury compliance and trust
Trust signalCompliance1 record
Liquid Mercury financial estimates
Financial estimateRevenue estimate
Valuation estimate
Liquid Mercury leadership team
Management profileNumber of profiles
Profiles4 records
Liquid Mercury funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Liquid Mercury M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Liquid Mercury
What does Liquid Mercury do?
Liquid Mercury provides institutional-grade digital asset trading infrastructure through three modular software products: Mercury Pro (multi-venue execution tools with smart order routing), Mercury OTC (electronic 24/7 over-the-counter trading replacing voice-based workflows), and Mercury RWA (secondary marketplace for tokenized real-world assets with DvP settlement). The platform is offered via enterprise subscriptions and white-label OEM licensing to RWA platform partners.
Is Liquid Mercury a public or private company?
Liquid Mercury is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Liquid Mercury founded?
Liquid Mercury was founded in 2016. It employs 11 to 50 people.
Where is Liquid Mercury based?
Liquid Mercury is headquartered in Chicago, United States, in the North America region.
How does Liquid Mercury make money?
Three revenue lines are on record. Platform/Subscription Licensing is the primary driver. The others are transaction/Trading Fees and white-Label OEM Licensing.
Who are Liquid Mercury's main competitors?
Direct peers on record are CoinRoutes, AlphaPoint, Securitize, Wintermute, Finery Markets, Talos, FalconX and B2C2. Broad incumbents are Galaxy Digital and Coinbase Prime.
Does Liquid Mercury have an API?
No public API is recorded for Liquid Mercury.
What industry is Liquid Mercury in?
Liquid Mercury's product category is Institutional Digital Asset Trading Infrastructure. Its primary akta.pro industry code is FSAPADAI, Liquidity Infrastructure (RFQ, order-book engines, matching, liquidity-as-a-service), with a secondary code of FSAFAEAB, Institutional Multi-Asset Trading Platforms (OTC/RFQ). Its NAICS code is 523210 and its SIC code is 6200.