US-based market-making firm Citadel Securities has invested US$400 million into cryptocurrency exchange Crypto.com at a US$20 billion valuation. The funding represents Crypto.com’s first “institutional funding round” since its founding in 2016.
Story continues below
According to the companies, these funds will support Crypto.com’s expansion into tokenized securities and derivatives as blockchain-based products continue to develop.
“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,” noted the executive.
