PayPal-backed Talos secures $105M, achieves unicorn status at $1.25B

Leading institutional technology provider for digital asset trading, Talos has secured $105 million in a Series B funding round.
Leading institutional technology provider for digital asset trading, Talos has secured $105 million in a Series B funding round.

Leading institutional technology provider for digital asset trading, Talos has recently announced that it has secured $105 million in a Series B funding round. Through the latest round led by the major global growth equity firm, General Atlantic, the PayPal-backed company has reached a valuation of $1.25 billion and achieved the unicorn status.

As per an announcement made on May 10, Talos will use the funds to extend its institutional-grade digital asset platform and to extend the company’s wings into the Asia-Pacific region and Europe.

The raise saw the participation of big names both from traditional finance and the crypto industry. Ken Fox’s private equity firm Stripes, Citi, BNY Mellon, and Wells Fargo Strategic Capital were featured in the round, along with investment firms like DRW and SCB 10x, and crypto trading platforms like Voyager. 

The Global FX head at BNY Mellon, Jason Vitale, said that the “investment is the latest example of BNY Mellon’s commitment to the future of digital assets.” He went on to add that BNY Mellon is one of the fresh advisors on Talos’ Strategic Investor Forum, and the team is working hard to bring institutional solutions to the crypto market.

Notably, the parent company PayPal, which is planning to launch its own stablecoin in the coming days, has shown a serious interest in the industry. In February, it formed a 6-membered advisory council for Blockchain, crypto, and digital assets, as TheCoinRise reported.

Talos institutional trading volumes are rising high

Talos, which was founded back in 2018, is a cryptocurrency trading, settlement, and other services provider. By May 2022, Talos claims that its institutional trading volumes have increased 20x year over year.

According to Anton Katz, co-founder and CEO of Talos, This capital round signifies a critical inflection point for the sector. He added:

“We’ve long heard that “the institutions are coming. We’re extremely proud to be the digital asset trading platform of choice for leading institutions around the world.”