Global market maker Citadel Securities has invested $400 million in crypto.com crypto exchange, giving the platform a total of $20 billion, according to Thursday’s announcement.
Crypto.com, which owns a large number of digital assets, said the investment would help the Singapore company expand its services to things like blockchain-based securities and derivatives.
The investment will help bridge the gap “between the digital economy and traditional markets to create a more efficient financial system 24/7,” Thursday. to announce read it.
“The scope of opportunity that lies ahead of us is incredible, as crypto continues to grow into a financial railroad,” Crypto.com CEO Kris Marszalek said in a statement.
“Having developed strategic and strategic initiatives over the past decade, Crypto.com is now well-positioned to capture economic growth across all financial sectors.”
“The integration of financial markets and digital tools is an exciting development that has the potential to further improve the market,” added Jim Esposito, President of Citadel Securities.
Wall Street’s interest in tokenization
Esposito’s comment comes as Wall Street’s interest in blockchain technology continues — despite a market downturn.
Back in February, BlackRock, a global asset manager, he announced that it is working with the flexible exchange Uniswap to bring one of its coins on the chain.
Before that, in January, the New York Stock Exchange he said was building a platform to allow traders to buy and sell US-listed equity tokens and exchange-traded funds.
And very recently, the S&P 500 gave the crypto Trade platform (XYZ) the green light to launch a new contract based on Hyperliquid, allowing traders to show themselves on the top list.
Citadel crypto interest
Miami, Florida-based Citadel, has been interested in the digital economy for a long time: Back in 2023, the company supported the EDX markets, “the first exchange of its kind” to provide investors with “the safest, fastest and most efficient cryptocurrency.”
Exchange this year work to a national bank document by the Office of the Comptroller of the Currency, which shows the level of deep connection between digital products companies and US banks.
Citadel last year also pumped $200 million into the crypto exchange Kraken to help support the company’s strategy to bring product culture to the chain.
