Citi, Wells Fargo, BNY Mellon invest in crypto firm Talos as institutional adoption of digital assets accelerates

Several major financial services firms, including Citi, Wells Fargo and Bank of New York Mellon, are investing in institutional digital asset technology provider Talos, aiming to remove “barriers to mass cryptocurrency adoption.” The latest funding round valued the company at $1.25 billion.

Citi, Wells Fargo, BNY Mellon Participate in $105M Funding for Digital Asset Technology Company

A number of major financial services firms, including Citi and Wells Fargo, have joined a funding round for Talos, a global company that provides institutional digital asset trading technology.

Talos announced a $105 million Series B round on Tuesday, valuing the company at $1.25 billion.

“Our institutional-grade infrastructure technology supports the entire lifecycle of digital asset trading, from price discovery to execution to settlement,” its website describes, adding that “Talos is removing barriers to mass cryptocurrency adoption.”

The announcement noted that the round was led by global growth equity firm General Atlantic, adding:

New investors include Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, DRW Venture Capital, SCB 10x, Matrix Capital Management, Fin VC and Voyager Digital, Graticule Asset Management Asia (GAMA) and Leadblock Partners.

Existing Talos investors include Andreessen Horowitz (a16z), Paypal Ventures, Castle Island Ventures, Fidelity Investments, Illuminate Financial, Initialized Capital and Notation Capital.

Talos co-founder and CEO Anton Katz commented:

This funding round represents a major inflection point for the industry. We’ve long heard that “institutions are coming”. These institutions are here now and we are very proud to be the digital asset trading platform of choice for leading institutions around the world.

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bitcoin, Bank of New York Mellon, Citi, Citibank, Citigroup, cryptocurrency, encryption infrastructure, cryptocurrency, financing round, Purpose, FuGuo bank

How do you see major financial services firms investing in digital asset companies? Let us know in the comments section below.

Kevin Helms

As an Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

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