Crypto.com has raised $400 million in investment from Citadel Securities. The company was valued at $20 billion.
Cointelegraph reported on July 16 that Crypto.com said it plans to use the funds to expand across all asset classes, including tokenised securities and derivatives.
Kris Marszalek (크리스 마살렉), Crypto.com co-founder and CEO, said it would continue to work with Citadel Securities to push for the cryptocurrency industry’s institutional adoption. He said cryptocurrencies are increasingly becoming financial rails.
Jim Esposito (짐 에스포지토), president of Citadel Securities, said the convergence of traditional financial markets and digital asset infrastructure has the potential to further boost market efficiency.
Cointelegraph reported that cryptocurrency exchanges are strengthening their role as a bridge between digital asset markets and traditional finance, and that Crypto.com plans to use the investment to accelerate its expansion into a broader range of asset classes beyond its exchange business.
Chi-gyu Hwang
delight@d-today.co.kr