Crypto.com Funding, Bybit Expansion, ETF Inflows Drive Market

Institutional funding and infrastructure growth drove the crypto sector on July 16, with Crypto.com securing its first institutional funding spherical and MoonPay strengthening its funds stack by an acquisition.

Bybit deepened its regulatory footprint with the launch of a licensed trade in Indonesia, whereas Kraken broadened its derivatives providing with new crypto choices contracts. Spot Bitcoin and Ethereum ETFs additionally prolonged their streak of day by day inflows, underscoring continued institutional demand regardless of blended weekly tendencies.

Crypto.com announced a $400 million strategic funding from Citadel Securities, valuing the corporate at $20 billion. The corporate mentioned the capital will help growth throughout digital asset infrastructure, together with tokenized securities and derivatives, marking the primary institutional funding spherical in its historical past.

The funding highlights continued institutional curiosity in crypto infrastructure as conventional monetary corporations increase into digital belongings. Past offering recent capital, the deal positions Crypto.com to speculate additional in regulated merchandise and tokenized monetary markets, reinforcing the broader development of convergence between conventional finance and blockchain-based infrastructure.

MoonPay acquires crypto deposit startup Glide

MoonPay acquired crypto deposits startup Glide, bringing its expertise, group, and buyer base into the corporate. Glide permits functions to simply accept crypto deposits from just about any pockets, trade, token, or cost card with out requiring customers to manually convert belongings earlier than finishing transactions.

Based in 2023, Glide processes greater than $100 million in annualized quantity throughout over 100 tokens and 30 blockchain networks.

Funds stay considered one of crypto’s largest usability challenges. Glide’s routing infrastructure simplifies deposits throughout a number of chains and funding sources, lowering friction for each builders and finish customers. The acquisition strengthens MoonPay’s place because it expands past fiat on-ramps into broader cost infrastructure.

Bybit launches regulated trade in Indonesia

Bybit formally launched Bybit Indonesia, a regionally operated trade, following its majority acquisition of PT Enkripsi Teknologi Handal (previously NOBI). The platform will function underneath the supervision of Indonesia’s Monetary Providers Authority (OJK) and initially supply greater than 500 buying and selling pairs.

The corporate mentioned the native entity will likely be managed by an Indonesia-based management group and function underneath home regulatory necessities. Indonesia is considered one of Southeast Asia’s fastest-growing digital asset markets. Reasonably than serving customers cross-border, Bybit is investing in a regionally licensed enterprise with devoted compliance and operational groups, reflecting the business’s rising emphasis on regulatory engagement as exchanges increase internationally.

Kraken expands into crypto choices

Kraken launched European-style, cash-settled choices contracts for Bitcoin and Ether on Kraken Professional. The contracts are initially obtainable by way of a request-for-quote (RFQ) mannequin, with weekly, month-to-month, quarterly, and semi-annual expiry phrases.

In line with the official release, the trade is increasing past spot and futures buying and selling to satisfy rising institutional demand for choices merchandise. Kraken plans to introduce a public order e book and wider geographic availability because the providing matures.

Spot Bitcoin and Ethereum ETFs document internet inflows

In line with Lookonchain, U.S. spot Bitcoin ETFs recorded 1,632 BTC (roughly $105.1 million) in internet inflows on July 16. BlackRock’s IBIT led the day with 1,246 BTC in purchases. Spot Ethereum ETFs added 23,567 ETH (roughly $44.2 million), with BlackRock’s ETHA accounting for 23,542 ETH.