Several major financial services firms, including Citi, Wells Fargo, and BNY Mellon, are investing in institutional digital asset technology provider Talos, which aims to remove “the barriers to wide-scale crypto adoption.” The latest funding round values the company at $1.25 billion.
Citi, Wells Fargo, BNY Mellon Participate in $105M Funding Round for Digital Asset Tech Firm
A number of major financial services companies, including Citi and Wells Fargo, have joined a funding round for Talos, a global firm that provides institutional digital asset trading technology.
Talos announced a $105 million Series B funding round Tuesday that values the company at $1.25 billion.
“Our institutional-grade infrastructure technology supports the full lifecycle of digital asset trading, from price discovery to execution through to settlement,” its website describes, adding that “Talos is removing the barriers to wide-scale crypto adoption.”
The funding round was led by global growth equity firm General Atlantic, the announcement notes, adding:
New investors including Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, DRW Venture Capital, SCB 10x, Matrix Capital Management, Fin VC and Voyager Digital, Graticule Asset Management Asia (GAMA) and Leadblock Partners joined the round.
Existing Talos investors included Andreessen Horowitz (a16z), Paypal Ventures, Castle Island Ventures, Fidelity Investments, Illuminate Financial, Initialized Capital, and Notation Capital.
Anton Katz, co-founder and CEO of Talos, commented:
This funding round represents a major inflection point for the industry. We’ve long heard that ‘the institutions are coming.’ The institutions are now here, and we’re extremely proud to be the digital asset trading platform of choice for leading institutions around the world.
What do you think about major financial services companies investing in digital asset firms? Let us know in the comments section below.
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Author: Kevin Helms