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 the company’s first round of institutional funding since its founding a decade ago, the company said in a press release Thursday.
The funding comes as digital assets attract greater participation from traditional financial institutions and tokenized assets emerge as an increasing area of focus for the industry.
The Singapore-based exchange said the capital will accelerate its expansion into tokenized securities, derivatives and other asset classes, as it seeks to bridge traditional and digital markets with a 24-hour trading infrastructure.
The deal reflects a broader shift as traditional financial firms increase their investments in crypto infrastructure. Since the introduction of bitcoin cash exchange-traded funds (ETFs) in January 2024, Wall Street firms have increasingly expanded into digital asset trading, tokenization and custody, while institutional investors continue to drive planned crypto allocations, according to EY research.
“The size of the opportunity before us is staggering, as cryptocurrencies increasingly become the rails of finance,” Crypto.com co-founder and CEO Kris Marszalek said in the statement.
