A New $400 Million Investment From Citadel Securities Values Crypto.com at $20 Billion. Here's What That Means For Crypto.

Citadel's concern successful Crypto.com is interesting, since it comes astatine a clip erstwhile fears of involvement complaint hikes are chilling the cryptocurrency market. That's wherefore Coinbase's (NASDAQ: COIN) banal has declined astir 60% implicit the past 12 months. Let's spot what Citadel's large concern successful Crypto.com tells america astir the broader crypto market.

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What sets Crypto.com isolated from different crypto exchanges?

Crypto.com is based successful Singapore, but it has secured licenses and regulatory approvals worldwide. That makes it much comparable to Binance, the world's largest crypto exchange, than Coinbase, which is based successful the U.S. and heavy babelike connected U.S. investors.

Crypto.com serves much than 150 cardinal users worldwide. It offers abstracted crypto trading platforms for novice and experienced investors, a prepaid crypto-linked Visa (NYSE: V) card, a non-custodial wallet for decentralized concern (DeFi) transactions, and different trading tools for stocks, exchange-traded funds (ETFs), status accounts, and prediction markets. Coinbase besides launched banal and ETF trading tools connected its level earlier this year.

Crypto.com besides mints its ain autochthonal token, Cronos (CRYPTO: CRO), which tin beryllium staked (locked up) connected its level to unlock little trading fees, higher reward tiers connected its Visa card, and information successful its level events (including token distributions and output boosters). It plans to grow its addressable marketplace done its Visa paper and boost its visibility done high-profile sporting events and personage sponsorships.

Why is Citadel Securities investing successful Crypto.com?

Citadel is investing successful Crypto.com to accelerate its enlargement beyond cryptocurrency trading. It wants the level to turn its futures and options trading infrastructure and to tokenize much accepted fiscal assets (such arsenic stocks and bonds) connected its blockchain. Citadel tin past usage Crypto.com's infrastructure arsenic a instauration for its round-the-clock, cross-asset trading.