Cryptocurrency Trading Platform Talos Completes $40 Million Series A Funding Round Led by a16z

Talos aims to accelerate institutional adoption of digital assets. It is now backed by some of the industry’s leading investment institutions.

Cryptocurrency Trading Platform Talos Completes  Million Series A Funding Round Led by a16z

Talos aims to accelerate institutional adoption of digital assets. It now has the backing of some of the industry’s leading investment institutions.

According to Cointelegraph on May 27, Talos, an institutional trading platform for digital assets, raised $40 million in a Series A round led by Andreessen Horowitz (a16z) with participation from PayPal Ventures, Fidelity Investments, Galaxy Digital, Elefund, Illuminate Financial and Steadfast Capital Ventures.

Talos said the Series A funding will be used to expand its institutional trading platform. The company provides liquidity sources, direct market access and clearing and settlement services for fund managers and other institutions. Its clients include buy-side institutions and financial service providers such as banks, broker-dealers, OTC desks, custodians and exchanges.

Talos co-founder and CEO Anton Katz said in a statement that the company “has had great success in attracting new institutional clients over the past two years. He added.

By partnering with the most prominent institutions in the global financial markets, we can provide infrastructure services for institutional trading of digital assets worldwide.
Arianna Simpson, Partner at Andreessen Horowitz, said

We have reached a tipping point: the widespread adoption of cryptocurrencies by institutions will only happen if robust, scalable institutional-level market infrastructures are in place.
Peter Sanborn, managing partner at PayPal Ventures, believes that digital assets play a “critical role” in the global financial system and that Talos software “provides important market structure support to help institutions securely participate in digital currency transactions.

This year, Andreessen Horowitz has made a big splash in the digital currency market. It invested $76 million in Layer 2 scale-out solutions, NFT marketplaces and privacy-based blockchain protocols. In addition, the venture capital firm announced a $1 billion crypto fund initiative to support a variety of emerging digital asset companies.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/cryptocurrency-trading-platform-talos-completes-40-million-series-a-funding-round-led-by-a16z/
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