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Talos’ goal is to hasten institutional use of digital assets. It now has some of the industry’s most powerful backers on board to help it achieve its goals.
Talos, an up-and-coming institutional technology supplier for cryptocurrency trading, has raised $40 million in Series A financing from some of the industry’s most prominent venture investors.
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 stated that the Series A financing will aid in the growth of its institutional trading platform. The firm offers liquidity sourcing, direct market access, and clearing and settlement services to fund managers and other organizations. Buy-side institutions and financial service providers such as banks, broker-dealers, OTC desks, custodians, and exchanges are among its clientele.
Talos co-founder and CEO Anton Katz stated that his company had “gained significant traction over the last two years” in gaining new institutional clients, adding:
“Now, by partnering with some of the most prominent players in the global financial markets, we can realize our goal of providing the fabric for institutional trading of digital assets around the world.
Arianna Simpson, partner at Andreessen Horowitz, said, “We have reached an inflection point where widespread institutional adoption will progress only with robust, expansive and institutional-grade market infrastructure in place.”
PayPal Ventures managing partner Peter Sanborn praised digital assets for playing a “key role” in the global financial system, adding that Talos’ software “provides that critical market structure support and enables institutions to reliably interact with digital currencies.”
Andreessen Horowitz has made a significant impact in the digital currency industry this year, investing $76 million in layer-2 scaling solutions, NFT markets, and privacy-focused blockchain protocols. The venture capital firm has also announced plans for a $1 billion crypto fund, which will be used to invest various emerging digital asset startups.