PayPal and Fidelity Investments have joined a $40 million funding round in digital asset trading technology firm Talos.
The financing was led by Andreessen Horowitz and also included backing from Galaxy Digital, Elefund, Illuminate Financial, and Steadfast Capital Ventures. Early-stage Talos investors also participated, including Castle Island Ventures, Notation Capital, Autonomous Partners, and Initialized Capital.
The Talos platform is designed to help institutions manage the full trade lifecycle, including: liquidity sourcing, direct market access, price discovery, algorithmic trade execution, transaction cost analysis (TCA), reporting, clearing, and settlement.
The company’s client base spans the entire digital asset ecosystem, from buy-side institutions to financial service providers, and includes banks, broker-dealers, prime brokers, OTC desks, lenders, custodians, and exchanges. Market players can use the platform to interact with other providers through a single configurable API or GUI.
"We are focused on building the best platform to access the crypto ecosystem," says Talos co-founder and CTO Ethan Feldman. "This new capital will enable us to stay ahead as the digital assets market structure matures and deliver the familiar institutional-grade infrastructure our clients demand.”