Crypto.com has secured a $400 million strategic investment from market maker Citadel Securities in a deal valuing the crypto exchange at $20 billion, marking the company’s first institutional funding round since its founding a decade ago, the company announced in a press release Thursday.
The funding comes as digital assets attract greater participation from traditional financial institutions and tokenized assets become a growing area of interest 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 connect traditional and digital markets with 24-hour trading infrastructure.
The deal reflects a broader shift as traditional financial companies increase their investments in crypto infrastructure. Since the introduction of bitcoin spot exchange-traded funds (ETFs) in January 2024, Wall Street firms have increasingly expanded into the trading, tokenization and custody of digital assets, while institutional investors continue to increase planned crypto allocations, according to an EY study.
“The scale of the opportunity before us is staggering as crypto increasingly becomes the mainstay of finance,” Kris Marszalek, co-founder and CEO of Crypto.com, said in the release.
