Citadel Securities has become the first institutional investor in Crypto.com through a strategic investment of $400 million.

Jim Esposito

This marks the first institutional funding round for Crypto.com and comes 10 years after its launch, and has increased the value of the business to $20 billion.

Speaking about the motivations behind the investment, Jim Esposito, president, Citadel Securities, affirmed that the convergence of traditional financial markets and digital asset infrastructure is an “exciting evolution with the potential to further improve market efficiency”. 

He added: “Crypto.com has built a foundation to support the continued institutionalisation of the digital asset…