Citadel Securities Invests $400 Million in Crypto.com

Citadel Securities has taken a stake in Singapore-based Crypto.com through a $400 million private placement, the companies announced. They did not disclose ownership percentage, valuation or a timetable for any strategic changes.

Citadel Securities is a U.S. market maker and electronic trading firm that provides liquidity across equities, options and other instruments. Crypto.com operates a global cryptocurrency exchange, a digital wallet and a payment card and was founded in 2016.

Both companies declined to specify how Crypto.com will use the funds. They did not say whether the capital will be allocated to product development, regulatory capital, market expansion or changes to governance or board composition.

No public filings or regulatory disclosures related to the transaction were available at the time of the announcement.

Citadel Securities was established in 2002 and is an affiliate of Citadel LLC. Crypto.com expanded from a payments app into a full-service exchange offering spot trading, derivatives, staking and card-based products and has pursued licensing and compliance in multiple jurisdictions.

Exchanges and crypto infrastructure providers have raised capital from institutional investors in recent years to support compliance, technology and market growth.