Singapore’s Crypto.com secures $400 M strategic investment from Citadel Securities

Citadel Securities made a strategic $400 million investment in Crypto.com on Thursday, putting the company’s valuation at $20 billion.

According to a release, the milestone represents the first institutional funding round in the company’s ten-year history.

The investment by Citadel Securities coincides with the industry’s rapid institutionalization, with cryptocurrency increasingly acting as essential infrastructure for a larger portion of the financial markets.

In order to bridge the gap between digital assets and traditional markets and build a more effective, round-the-clock financial ecosystem, funding is anticipated to hasten Crypto.com’s expansion into all asset classes, including tokenized securities and derivatives.

“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.

The integration of digital asset infrastructure and traditional financial markets, according to Jim Esposito, President of Citadel Securities, is an exciting development with the potential to significantly increase 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.