By Manya Saini

July 16 (Reuters) – Crypto.com said on Thursday that market maker Citadel Securities had invested $400 million in the crypto exchange at a $20 ‌billion valuation, in its first-ever institutional fundraising round.

Banks, exchanges and asset ‌managers have rapidly blurred the line between traditional finance and digital assets over the past year, ​racing to stake out positions in crypto markets.

Greater regulatory clarity, soaring institutional demand and the growing adoption of tokenized assets have prompted financial heavyweights to invest in infrastructure spanning stablecoins, custody, trading and blockchain-based settlements.

Founded by billionaire Ken…