Global market maker Citadel Securities has invested $400 million in crypto exchange Crypto.com, giving the platform a $20 billion valuation, according to a Thursday announcement.
Crypto.com, which has a number of digital asset products, said the cash would help the Singapore-based company expand its services to assets such as blockchain-based securities and derivatives.
The cash will help bridge the gap “between digital asset and traditional markets to create a more efficient 24/7 financial ecosystem,” a Thursday announcement read.
“The size of the opportunity in front of us is staggering, as crypto increasingly becomes the rails for finance,” Crypto.com CEO Kris Marszalek said in a statement.
“Having built the right regulatory and tech infrastructure over the last decade, Crypto.com is now perfectly positioned to capture this new wave of growth across all asset classes.”
