Singapore-based cryptocurrency exchange Crypto.com broke the news that Citadel Securities has decided to invest $400 million in the company, valuing it at approximately $20 billion. 

The deal represents the exchange’s first institutional funding round since it was founded a decade ago.

“Staggering Opportunity”

The investment comes amid a lot of movement in the worlds of traditional finance and digital assets, with major firms expressing their views on the increasing role of blockchain technology in the future of global markets.

According to both companies, the fresh capital will be used to accelerate Crypto.com’s expansion into tokenized securities and derivatives, two areas considered the next frontier for the…