Citi, BNY Mellon, Wells Fargo, Stripes, Strategic Capital, And A Slew Of Other Financial Institutions Are Backing A Cryptocurrency Startup.

Citi, BNY Mellon, Wells Fargo, Stripes, Strategic Capital, DRW Venture Capital, SCB 10x, Matrix Capital Management, Fin VC and Voyager Digital, Graticule Asset Management Asia (GAMA), and LeadBlock Partners participated in the new investment round. 

Andreessen Horowitz, PayPal Ventures, Castle Island Ventures, Fidelity Investments, Illuminate Financial, Initialized Capital, and Notation Capital were among the existing investors. 

The increased funding comes as Talos continues to expand rapidly, with institutional trade volume increasing by more than 20 times year over year.

​The new funds will be used to develop and diversify the firm's institutional-grade digital asset platform, as well as fuel its expansion in Europe and Asia Pacific.

​According to Samar Sen, head of Asia Pacific at Talos, the company provides tooling for institutional crypto investors at the pre-trade, execution, and post-trade phases.

​The firm gathers liquidity from a variety of sources, including exchanges and over-the-counter trading desks, during the pre-trade stage. Talos' technology uses algorithms and clever order routers for the execution step. The company also offers settlement services after trades. 

Talos was started in New York in 2018 and now has operations all around the world.