Citadel Securities has made a strategic $400 million investment in Crypto.com, valuing the digital asset platform at $20 billion.
The deal marks the first institutional funding round in Crypto.com’s decade long history, according to an announcement Thursday.
Crypto.com plans to use the funding to expand across additional asset classes, including tokenized securities and derivatives. The company said the investment would support its efforts to connect digital asset infrastructure with traditional financial markets and build a more efficient 24/7 financial ecosystem.
The investment comes as major trading firms and financial institutions increase their involvement in digital asset markets and blockchain based capital markets infrastructure.
Crypto.com CEO and cofounder Kris Marszalek said the company has spent the past decade developing the regulatory and technology infrastructure needed to support its next stage of expansion.
