Big Banks Invest In Institutional-Grade Crypto Trading Platform Talos
Following a $105 million Series B funding round, Talos, an institutional digital asset trading technology company, has secured a $1.25 billion valuation.
Citi and Wells Fargo participated in the funding round. With General Atlantic leading the round, a number of new investors joined, including Stripes, BNY Mellon, DRW Venture Capital, and many others.
Talos helps institutions manage all aspects of their trade lifecycle, including liquidity sourcing, direct market access, price discovery, algorithmic trade execution, cost analysis, reporting, clearing, and settlement.
A recent round of funding comes on the heels of meteoric growth for the firm, whose institutional trading volume has jumped over 20 times year over year. Talos intends to use the new capital to expand and diversify its platform as well as grow its presence in the Asia-Pacific region and Europe.
According to Anton Katz, CEO of Talos, digital asset infrastructure will have a massive impact on the global financial industry. "Other traditional asset classes will move towards this new technology as well."