Citigroup and Wells Fargo Invest $105M in Talos

Talos, a crypto trading infrastructure provider, has raised $105M in a Series B funding round. The startup’s valuation has now reached $1.25B.

The round was led by General Atlantic. Other participants include Wells Fargo Strategic Capital, Citigroup, BNY Mellon, DRW, SCB 10x, Stripes, Voyager and others. They are all first-time investors in Talos.

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

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

The company CEO Anton Katz 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 a crypto trading platform for leading institutions.”