Today Talos, which provides digital asset trading infrastructure, announced a $105 million Series B funding round led by General Atlantic. The investment values the company at $1.25 billion, and backers include major banks BNY Mellon, Citi, Wells Fargo Strategic Capital and SCB 10X, the subsidiary of Siam Commercial Bank.
Talos connects to exchanges, market makers and custody solutions which means that institutions can use its API for trading, borrowing and lending without needing to do the heavy lifting. The CEO and CTO previously worked at Broadway Technologies, which develops solutions for the fixed income sector in traditional finance.
“We believe that the digital assets infrastructure will have a wide-scale impact on the entire financial industry and ultimately, we will see traditional asset classes migrate to use this new technology as well,” said Anton Katz, co-founder and CEO of Talos.
According to the company, institutional trading volume increased 20 times year over year. The funds will be used to develop the platform and expand the team which has already grown 400% in the past year.
“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,” said Aaron Goldman, Managing Director and Co-Head of Financial Services at General Atlantic
Other new investors include Stripes, DRW, SCB 10x, Matrix Capital Management, Fin VC, Voyager Digital, Graticule Asset Management Asia (GAMA) and LeadBlock Partners. They were joined by existing investors such as PayPal Ventures and Fidelity Investments, amongst others.