Citi, Wells Fargo, BNY Mellon Invest $105 in Crypto Infrastructure Firm Talos

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Talos’s val­u­a­tion has reached $1.25 bil­lion after the lat­est $105 mil­lion Series B fund­ing round led by glob­al growth equi­ty firm Gen­er­al Atlantic. Oth­er Investors include Stripes, BNY Mel­lon, Citi, Wells Far­go Strate­gic Cap­i­tal, and more.

Focused on Institutional Clients

Accord­ing to the firm’s press release, Talos, a trad­ing infra­struc­ture firm focused on offer­ing cryp­to ser­vices to insti­tu­tions, said that the new round of invest­ment will help scale and diver­si­fy its insti­tu­tion­al-grade dig­i­tal asset plat­form and accel­er­ate the expan­sion into APAC and Europe.

The announce­ment came on the heels of the unicorn’s rapid growth, with insti­tu­tion­al trad­ing vol­ume sky­rock­et­ing over 20x year-over-year and its end-user base reach­ing more than 20 mil­lion as of 2022. The firm has grown over 400% dur­ing the past year, cur­rent­ly offer­ing oppor­tu­ni­ties in New York, Lon­don, Swe­den, and Singapore.

Talos CEO Anton Katz said, “dig­i­tal assets infra­struc­ture will have a wide-scale impact on the entire finan­cial indus­try,” and tout­ed his pre­dic­tion that tra­di­tion­al asset class­es will even­tu­al­ly move into the cryp­to space. Report­ed­ly, Katz has not­ed that the firm does not plan to go pub­lic in the near future.

As a trad­ing infra­struc­ture tar­get­ed at insti­tu­tion­al clients, Talos offers ser­vices that pow­er the full trade life­cy­cle for trad­ing and set­tle­ment via a sin­gle point of access. Aaron Gold­man, Man­ag­ing Direc­tor and Co-Head of Finan­cial Ser­vices at Gen­er­al Atlantic, revealed that Talos’s solu­tions cov­er every aspect of trad­ing cryp­tocur­ren­cies and bridg­ing assets from CeFi to DeFi.

“Talos pro­vides enter­prise grade order man­age­ment, liq­uid­i­ty aggre­ga­tion, algo­rith­mic exe­cu­tion, report­ing and com­pli­ance to mar­ket par­tic­i­pants, which should allow for more effi­cient oper­a­tions, bet­ter exe­cu­tion and low­er total cost of ownership.”

$40M Series A Round in 2021

Found­ed in 2018, the cryp­to firm raised $40 mil­lion in a Series A round last year from Andreessen Horowitz (a16z), Pay­Pal Ven­tures, Cas­tle Island Ven­tures, and Fideli­ty Investments.

Pre­vi­ous investors will con­tin­ue their part­ner­ships with Talos through this new fund, the release stat­ed, and the firm will lever­age this oppor­tu­ni­ty to accel­er­ate its glob­al expan­sion and prod­uct development.

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