Major financial institutions, including Citi, Wells Fargo, and BNY Mellon, have joined a funding round for institutional digital asset technology provider Talos, which aims to remove “the barriers to wide-scale crypto adoption.”

With the raise of $105 million, the Series B funding round values Talos at $1.25 billion. The announcement stated:

“Our institutional-grade infrastructure technology supports the full lifecycle of digital asset trading, from price discovery to execution through to settlement. Talos is removing the barriers to wide-scale crypto adoption.”

The investment round was led by General Atlantic, and included several major financial services firms, the announcement added:

“New investors including 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 joined the round.”

Early Talos investors include Andreessen Horowitz (a16z), Paypal Ventures, Castle Island Ventures, Fidelity Investments.

Co-founder and CEO of Talos, Anton Katz, commented:

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

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