Citadel Securities has made a strategic $400 million investment in Crypto.com, valuing the digital asset platform at $20 billion.

The deal marks the first institutional funding round in Crypto.com’s decade long history, according to an announcement Thursday.

Crypto.com plans to use the funding to expand across additional asset classes, including tokenized securities and derivatives. The company said the investment would support its efforts to connect digital asset infrastructure with traditional financial markets and build a more efficient 24/7 financial ecosystem.

The investment comes as major trading firms and financial institutions increase their involvement in digital asset markets and blockchain based capital markets infrastructure.

Crypto.com CEO and cofounder Kris Marszalek said the company has spent the past decade developing the regulatory and technology infrastructure needed to support its next stage of expansion.

“The size of the opportunity in front of us is staggering, as crypto increasingly becomes the rails for finance,” Marszalek said. He added that the company is positioned to capture growth across a broader range of asset classes.

Citadel Securities President Jim Esposito said the convergence of traditional markets and digital asset infrastructure could improve market efficiency.

“Crypto.com has built a foundation to support the continued institutionalization of the digital asset market,” Esposito said.

Founded in 2016, Crypto.com provides trading, payments and other digital asset services. The company has recently expanded its focus to include tokenized real world assets and prediction markets.

Citadel Securities is one of the world’s largest market makers, providing liquidity and execution services across a range of financial products. The firm said it plans to collaborate with Crypto.com as digital asset infrastructure becomes more closely integrated with global capital markets.