Citigroup and Wells Fargo Invest $105M in a Crypto Trading Platform

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Crypto trading infrastructure provider Talos has raised $105M in a Series B funding round, which has resulted in the startup’s valuation reaching $1.25B.

The round, which has been led by General Atlantic, has also seen the participation of Wells Fargo Strategic Capital, Citigroup, BNY Mellon, DRW, SCB 10x, Stripes, Voyager and others. All of them invested in Talos for the first time.

The company has also been backed by existing investors including Andreessen Horowitz (a16z), PayPal Ventures, Castle Island Ventures and Fidelity Investments.

Talos provides direct access to the cryptocurrency market, price monitoring, reporting, clearing and other services for institutional clients.

Anton Katz, co-founder and CEO of the startup, has said:

“This round is a major turning point for the industry. We have been hearing for a long time: ‘The institutionalists are coming.’ Now they are here and we are proud to be the crypto trading platform for leading institutions.”

The company was founded in 2018 in New York and has offices around the world.