Talos has welcomed PayPal and Fidelity Investments in a $40 million funding round led by Andreessen Horowitz, which 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.
Digital asset trading technology firm Talos 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.
Catering to banks, broker-dealers, prime brokers, OTC desks, lenders, custodians, and exchanges, the Talos platform allows market players to interact with other providers through a single configurable API or GUI.
Ethan Feldman, co-founder and CTO at Talos, said: “We are focused on building the best platform to access the crypto ecosystem. 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.”
Ex-Goldman Sachs Justin Schmidt has recently joined Talos as Head of Strategy. This executive move is of great significance as Schmidt served at Goldman Sachs as Head of Digital Asset Markets since 2018 and spearheaded the company’s crypto trading desk in global markets and overall digital asset strategy.
Schmidt will be responsible for developing, executing, and sustaining Talos’s strategic initiatives and managing business operations. He will also assist in recruiting talent and will drive the company’s growth internationally.
Anton Katz, co-founder and CEO at Talos, commented: “I have known Justin for years and feel very lucky to have him part of the Talos team. Justin’s experience on the institutional side of digital assets combined with his background in capital markets could not have come at a more relevant time for our firm.
“We continue to see rapid growth of our business as a direct result of more institutions taking part in the digital assets ecosystem, and it is more important than ever to ensure that we deliver a complete suite of digital assets trading solutions to fund managers and the providers that service them. Justin’s addition to the Talos team exemplifies our commitment to enable larger institutions to participate meaningfully in the crypto asset class.”
Talos’s extensive suite of solutions supports clients through the full crypto trading lifecycle, from price discovery to execution through clearing and settlement and across spot, futures and FX markets.
Justin Schmidt, Head of Strategy at Talos, said: “Global adoption of digital assets has continued into 2021. Traditional financial institutions are joining the fray in various capacities, including custody, markets, asset management, financing, and venture.
“I’m honored to join Anton, Ethan, and the entire Talos team and help build modern financial market infrastructure for digital assets. I will focus extensively on our clients, growth, and supporting the team as we continue to deliver institutional-grade operational excellence.”
The new Head of Strategy at Talos has 17 years of experience within the industry, having served as a senior vice president at investment management firm Seven Eight Cap and a quantitative equities portfolio manager for hedge funds in New York and London prior to joining Goldman Sachs in 2018.
Schmidt has contributed to Goldman Sachs’ relaunching of its cryptocurrency trading desk after a three-year hiatus due to regulatory concerns.