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Crypto trading engineering firm Talos raised $40 million in Series A funding led by Andreessen Horowitz (a16z), with PayPal Ventures, Fidelity Investments and others also taking part.
The New York-based firm, founded in 2018, provides technology that supports digital asset trading to financial institutions.
Its services include liquidity access, direct market access, price discovery, automated execution, reporting, clearing and settlement.
The fintech announced the funding round Thursday and will use the capital to build out the “institutional-grade infrastructure our clients demand,” CTO Ethan Feldman said.
Justin Schmidt, the former head of digital asset markets at Goldman Sachs, joined Talos as head of strategy in April.