Crypto Firm Talos Valued at $1.25 Billion After Recent Funding Round

Talos, a cryptocurrency trading platform backed by PayPal, recently raised $105 million in Series B funding led by major equity firm Global Atlantic. Following the funds, the firm has now reached a valuation of $1.25 billion making it the latest within the industry to attain the unicorn status.

Among the investors that participated in the latest funding round were private equity firm Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, investment firms like DRW and SCB 10x, as well as crypto-trading platform Voyager. Existing investors Andreessen Horowitz, PayPal (PYPL), Fidelity, Castle Island Ventures, Illuminate, Notation Capital, and Initialized Capital also participated after joining the $40 million Series A funding round in May 2021. Most of the participants involved in the round are considered to be prominent traditional financial institutions, which signals their growing appetite to search for partners that would enable them to diversify their portfolios to include digital assets.

“This investment is the latest example of BNY Mellon’s commitment to the future of digital assets,” explained Jason Vitale, Global Head of FX at BNY Mellon. “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,” elaborated Talos co-founder and CEO Anton Katz.

Talos, founded in 2018, provides institutional-grade infrastructure technology for financial institutions within the crypto industry. Liquidity access, direct market access, price discovery, automated execution, clearing, and settlement are among the services that it offers. With the recently secured capital, the firm plans to boost its expansion into the Asia-Pacific region as well as Europe. The company’s partner base covers various crypto firms including Binance, Coinbase, and FTX, according to its website. By May 2022, Talos reported that its institutional trading volumes experience a 20-times spike year-over-year.

Sources: CoinTelegraph, CoinDesk