Talos has emerged as a unicorn with the latest round of funding pushing its valuation to $1.25 billion. The PayPal-backed crypto firm raised $105 million in the Series B round, which was led by General Atlantic with participation from BNY Mellon, Wells Fargo Strategic Capital, Stripes, and Citi etc. Talos will use the funding to extend its institutional-grade digital asset platform and speed up its expansion into the Asia-Pacific region and Europe.
Jason Vitale, BNY Mellon’s global FX head, said the investment is the latest example of BNY Mellon’s commitment to the future of digital assets. He highlighted that the company is among new advisors on Talo’s Strategic Investor Forum working on building institutional solutions for the crypto market.
Anton Katz, Talo’s co-founder and CEO, described the funding as a major indicator of the growing institutional adoption. He said it represents a major inflection point for the industry. Katz believes the institutions are now here and Talo’s is proud to be the digital asset trading platform of choice for leading institutions around the world.
Talos, established in 2018, is an institutional-grade infrastructure technology provider in the crypto industry. It offers services for trading and settlement among others. The firm’s partner base covers a wide number of firms in the crypto ecosystem, such as Coinbase, Binance and FTX, and other over-the-counter desks and FTX platforms. Talos recorded a 20x times surge in its institutional trading volumes year-over-year by May 2022.