Talos, a cryptocurrency startup backed by PayPal, has raised $1.25 billion in new funding, making it the industry’s latest unicorn.
According to a statement published on May 10, the cryptocurrency startup has raised $105 million in a Series B funding round led by General Atlantic, a large global growth equity firm.
The cryptocurrency startup will use the funds to expand its institutional-grade digital asset platform and expand throughout Asia and Europe.
Ken Fox’s private equity firm Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, investment firms including DRW and SCB 10x, crypto trading platform Voyager, and others were among the companies that participated in the round.
BNY Mellon’s global FX head Jason Vitale stated, “This investment is the latest illustration of BNY Mellon’s commitment to the future of digital assets.” BNY Mellon is one of the latest advisers on Talos’ Strategic Investor Forum, which is working on institutionalising crypto solutions.
Andreessen Horowitz, PayPal Ventures, Fidelity Investments, Castle Island Ventures, Illuminate, Notation Capital, and Initialized Capital were among the previous investors from Talos’ $40 Series A fundraising round, which concluded in May 2021.
Talos’ partner base includes a wide range of companies in the crypto ecosystem
According to Anton Katz, co-founder and CEO of Talos, the investment is a key indicator of institutional adoption:
“This round of finance marks a watershed moment in the business. The institutions are coming,’ we’ve heard for a while. Institutions have arrived, and we’re ecstatic to be the digital asset trading platform of choice for the world’s most prestigious financial institutions.”
Talos is an institutional-grade cryptocurrency infrastructure technology company that offers trading, settlement, and other services. It was founded in 2018.
Talos’ partner base, according to the company’s website, includes a wide range of companies in the crypto ecosystem, including various exchanges like as Binance, Coinbase, and FTX, as well as over-the-counter desks and FX platforms. By May 2022, Talos claims its institutional trading volumes had increased 20 times year over year.