A renowned institutional technology provider for cryptocurrency trading, Talos, has secured $40 Mln serial A funding from a number of leading venture capitalists within the digital asset market.
The raise, which was led by Andreessen Horowitz, also had participation from PayPal Ventures, Fidelity Investments, Galaxy Digital, Elefund, Illuminate Financial, and Steadfast Capital Ventures.
Talos revealed that the Series A funding will assist in bootstrap in the expansion of its institutional trading platform. The firm provides fund managers and other institutions with liquidity sourcing, direct market access, and clearing and settlement services. Its clients embody buy-side institutions and financial service providers like banks, broker-dealers, OTC desks, custodians, and cryptocurrency exchanges.
Anton Katz, Talos’ co-founder, and CEO outlined that his firm has “gained significant traction over the last two years” in attracting new institutional clients, adding:
“Now, by partnering with a number of the foremost prominent players within the global financial markets, we will realize our goal of providing the fabric for institutional trading of digital assets around the world.
Arianna Simpson, the partner at Andreessen Horowitz, added, “We have reached an inflection point where widespread institutional adoption will progress only with robust, expansive, and institutional-grade market infrastructure in situ.”
PayPal Ventures’ managing partner Peter Sanborn touted digital assets as playing a “key role” within the global economic system, adding that Talos’ software “provides that critical market structure support and enables institutions to reliably interact with virtual assets.”
Andreessen Horowitz has made an enormous splash within the digital currency market this year, backing layer-2 scaling solutions, NFT marketplaces, and privacy-focused blockchain protocols to the tune of $76 Mln. The risk capital firm has also unveiled plans for a $1 Bln crypto fund which will be employed to bootstrap various up-and-coming digital asset businesses.