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Crypto.com has secured a $400 million strategic investment from Citadel Securities, valuing the company at $20 billion.
The investment marks the first institutional funding round in Crypto.com's decade-long history.
The deal comes as the crypto industry undergoes rapid institutionalisation, with digital assets increasingly serving as infrastructure for a greater part of the capital markets. The funding is expected to accelerate Crypto.com's expansion into all asset classes, including tokenised securities and derivatives, as the firm looks to bridge the gap between digital asset and traditional markets to create a more efficient 24/7 financial ecosystem.
Kris Marszalek, Co-Founder and Chief Executive Officer, Crypto.com
Kris Marszalek, Co-Founder and Chief Executive Officer, Crypto.com said:
"We are thrilled to work with Citadel Securities to continue driving the crypto industry into a new era of institutionalization. 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."
Jim Esposito, President, Citadel Securities
Jim Esposito, President, Citadel Securities commented:
"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."
Founded in 2016, Crypto.com is used by millions of users worldwide and is positioned as an industry leader in regulatory compliance, security and privacy. The firm states its vision as Cryptocurrency in Every Walletâ„¢, and is focused on accelerating the adoption of cryptocurrency through the development of new use cases including prediction markets and tokenised RWAs.
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