Crypto.com announced Thursday a strategic $400 million investment from Citadel Securities valuing the company at $20 billion.
The milestone marks the first institutional funding round in the company’s decade-long history, it said in a statement.
Citadel Securities’ investment comes as the industry is undergoing rapid institutionalization, with crypto increasingly serving as fundamental infrastructure for a greater part of the capital markets.
Funding is expected to accelerate Crypto.com’s expansion into all asset classes, including tokenized securities and derivatives, bridging the gap between digital asset and traditional markets to create a more efficient 24/7 financial ecosystem.
“We are thrilled to work with Citadel Securities to continue driving the crypto industry into a new era of institutionalization,” said Kris Marszalek, Co-Founder and Chief Executive Officer of Crypto.com.
“The size of the opportunity in front of us is staggering, as crypto increasingly becomes the rails for finance,
|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,” he added.
Meanwhile, Jim Esposito, President of Citadel Securities, said the convergence of traditional financial markets and digital asset infrastructure is an exciting evolution with the potential to further improve market efficiency.
“Crypto.com has built a foundation to support the continued institutionalization of the digital asset market, and we are pleased to collaborate with the Crypto.com team as we help create the capital markets of the future,” he added.