The early days of institutional crypto trading, he doesn’t reach for buzzwords. He remembers phones. Lots of phones. Traders calling dealers, dealers calling liquidity providers, and everyone trying to piece together a market that moved at the speed of a Telegram notification. The industry felt twenty or thirty years behind, he said – and for someone with decades in electronic trading, that gap was too big to ignore.
That gap is why he launched Cypator. Based between Miami and Boca, Jedeikin has spent most of his career building the kind of behind-the-scenes infrastructure that makes big markets work. He came up through electronic engineering, moved into product roles, and ran a fast-growing FX trading tech company before selling it in 2021. His takeaway from that run: the next real shift in global finance would happen in crypto.
But only if institutions could actually participate.
Crypto’s retail-heavy past didn’t bother him. The compliance issues did. So did the lack of tools banks, brokers, and funds would need if they wanted to execute trades, provide liquidity, or offer digital asset exposure to high-net-worth clients. As Jedeikin told Refresh Miami, institutions weren’t going to jump in until they could do it in a way that felt familiar, workable, and safe.
That’s the idea behind Cypator, which launched in March 2022 and is now an eight-person, pre-Series A team. The company has already processed more than $6 billion across three million trades, building a network of more than 25 institutional participants. All of them trade crypto in the U.S. or abroad. None of them have any interest in meme coins.
“We’re completely B2B,” asserted Jedeikin [pictured above]. “Our clients are desks inside banks, brokers, and financial firms. They need the same tools they have in FX or equities, only built for digital assets,” he said.
Cypator offers two main products. The first is a tech stack for OTC desks that still rely on phone calls or Telegram to execute trades. The second is a liquidity network that routes orders through a prime broker rather than a public exchange. “It’s a network, not an exchange,” he said. “We’re the technology layer. The clearing is handled by a regulated prime broker.”
That structure solves a major regulatory headache. “We’re not a broker, not a custodian, not an adviser,” Jedeikin said. “We don’t hold funds or wallets, and we’re not counterparty to the trade.” Instead, Cypator focuses on audit trails, transparency, and compliance features that institutions actually need – especially now that U.S. regulators are taking a clearer stance on digital asset rules.
The timing hasn’t hurt. Institutional interest has surged since last year, and Jedeikin expects hundreds of new OTC desks to open globally over the next few years. Exchanges themselves are launching institutional desks, while regional banks and brokers are scrambling to catch up.
Beyond trading, he’s convinced the larger disruption in crypto will come from tokenized real-world assets: everything from treasuries to real estate titles to money market funds. “You’ll be able to trade almost anything, twenty-four seven,” he said.
Cypator plans to support all of it. Today, the platform handles spot trading across more than 300 coins. Next, they want to expand into options and broaden the range of financial instruments institutions can execute.
For Jedeikin, the mission is simple: remove the friction so the market can finally grow up.
