Crypto.com has secured a $400 million strategic investment from market maker Citadel Securities in a deal that values the cryptocurrency exchange at $20 billion, marking its first institutional funding round since its founding a decade ago, the company announced in a press release Thursday.
The funding comes as digital assets see further participation from traditional financial institutions and tokenized assets emerge as an area of focus for the industry.
The Singapore-based exchange said the capital aims to bridge traditional and digital markets with 24-hour trading infrastructure and accelerate its expansion into tokenized securities, derivatives and other asset classes.
The deal reflects a broader shift as traditional financial companies ramp up investments in crypto infrastructure. Since the introduction of Spot Bitcoin BTC$64,150.05 With the introduction of exchange-traded funds (ETFs) in January 2024, Wall Street firms are accelerating their expansion into digital asset trading, tokenization, and custody, while institutional investors continue to increase their planned crypto allocations, according to EY research.
“As cryptocurrencies increasingly become the rails of finance, the magnitude of the opportunity in front of us is staggering,” Crypto.com co-founder and CEO Chris Marszalek said in a release.
