Talos
Talos is an institutional digital asset infrastructure provider serving hedge funds, asset managers, ETF issuers, banks, broker-dealers, and custodians with an API-first OEMS, smart order routing, RFQ, portfolio and risk tools, white-label brokerage SaaS, and Coin Metrics market and on-chain data.
- Company typePrivate
- Founded2018
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Talos does
Talos is an institutional digital asset trading infrastructure provider founded in 2018 in New York by Anton Katz and Ethan Feldman. The company operates a full-stack, API-first platform centered on an Order and Execution Management System (OEMS) and extending into smart order routing across ~60 exchanges and OTC desks, execution algorithms, a multi-dealer RFQ platform, portfolio construction and risk management (with factor-model optimization and Greeks-based risk views across spot, futures, perpetuals, and options), treasury and settlement, white-label brokerage infrastructure, and post-trade analytics. Underlying technology is built capital-markets-style with FIX, REST, and WebSocket APIs, isolated client environments, SOC 2 Type 2 compliance, DR/failover, and a proprietary low-latency networking library ('Sonic') that the company has open-sourced. The Coin Metrics subsidiary, acquired in 2025, adds institutional market data feeds, on-chain analytics (Atlas, Network Data Pro), reference rates, the datonomy digital-asset classification system, and a Security Master that feed pricing, risk, and analytics modules.
Talos monetizes the platform primarily through institutional SaaS subscriptions sold via a quote-based, annual contract model and a 'Request a Demo' enterprise sales motion. Revenue streams include core trading-platform subscriptions, white-label / OEM brokerage-as-a-service for brokers, neobanks, retail platforms, custodians, and PSPs, Coin Metrics data subscriptions, and professional services for implementation and integration. Customer segments span buy-side (hedge funds, asset managers, ETF issuers, crypto funds, prop trading firms, token holders), sell-side (banks, broker-dealers, OTC desks), and service providers (custodians, PSPs). Major distribution integrations include BlackRock Aladdin (Oct 2025), Nasdaq Calypso + Trade Surveillance (Mar 2026), CME Group futures, Deribit options, Uniswap Labs + Fireblocks DeFi, Virtu Financial, and BlackRock/Fidelity/BNY prime relationships.
The company is venture-backed, with disclosed equity of approximately $190M+ across a 2021 Series A ($40M, Andreessen Horowitz-led), 2022 Series B ($105M, General Atlantic-led at $1.25B valuation), and January 2026 Series B extension ($45M, ~$1.5B post-money). Talos holds operating entities in the United States (Talos Global, Inc. and Talos Trading, LLC), the United Kingdom, Cyprus, the Netherlands, and Singapore, and reports clients in 38 countries as of Q1 2026.
Talos firmographics
Firmographics- Name
- Talos
- Legal name
- Talos Global, Inc.
- Website
- https://talos.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Talos is an institutional digital asset infrastructure provider serving hedge funds, asset managers, ETF issuers, banks, broker-dealers, and custodians with an API-first OEMS, smart order routing, RFQ, portfolio and risk tools, white-label brokerage SaaS, and Coin Metrics market and on-chain data.
- Ownership category
- akta.pro rank
Talos industry classification
Industry- Product category
- Institutional Digital Asset Trading Infrastructure
- NAICS
- Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (523210), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)
- akta.pro primary industry
- Institutional Multi-Asset Trading Platforms (OTC/RFQ) (FSAFAEAB)
Keywords
Where Talos is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
Talos business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Institutional SaaS Subscriptions: Recurring subscription/SaaS fees for access to the Talos trading platform, OEMS, smart order router, portfolio & risk management, treasury & settlement, RFQ platform, and analytics modules licensed to institutional clients (hedge funds, asset managers, banks, ETF issuers, broker-dealers, custodians). Customers are onboarded via 'Request a Demo' with annual/multi-year contracts typical for capital-markets SaaS.
- White-Label Brokerage-as-a-Service: Recurring SaaS revenue from banks, brokers, neobanks, retail investment platforms, OTC desks, custodians and payment service providers that embed Talos White Label (GUI + APIs + ledger + auto-hedging) under their own brand to offer digital asset trading to end customers.
- Market Data & Analytics (Coin Metrics): Subscription-based access to Coin Metrics market data feeds, on-chain data, indexes, datonomy classification, Security Master and analytics sold through Talos Data products to institutions for research, pricing, valuation and risk management.
- Professional Services & Implementation: Implementation, customization and integration services associated with deploying Talos at institutional clients, including connectivity, workflow customization and ongoing premium support.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Institutional SaaS — quote-based subscription for the Trading Platform, Portfolio Construction, Portfolio & Risk Management, Treasury & Settlement, RFQ Platform and Post-Trade Analytics. |
| Subscription | Annual | White-Label brokerage SaaS — quote-based SaaS for embedded crypto trading under client brand, with optional auto-hedging and pricing engine. |
| Subscription | Annual | Coin Metrics Data — institutional market, on-chain and index data subscriptions. |
Go-to-market motion4 records
Talos product offering
Product offeringCore offering
Talos provides an institutional-grade, API-first digital asset trading and portfolio management platform comprising an Order and Execution Management System (OEMS), a smart order router, execution algorithms, a multi-dealer RFQ platform, portfolio construction and optimization, real-time portfolio and risk management, treasury and settlement, and post-trade analytics. The platform connects to approximately 60 exchanges and OTC desks and over 110 providers via FIX, REST and WebSocket APIs, and is sold as quote-based annual SaaS subscriptions to institutional clients, with a white-label OEM offering that lets brokers, neobanks and retail platforms embed Talos under their own brand.
Product overview
Talos is an institutional digital asset infrastructure platform composed of a core Trading Platform (OEMS) extended by a set of modules and acquired capabilities. The Trading Platform serves as the central hub, providing connectivity to 50+ exchanges and OTC desks, smart order routing, execution algorithms, and multi-dealer RFQ. Around it, Talos offers the White Label solution (brokerage-in-a-box), the RFQ Platform, Portfolio Construction (with Talos Optimizer and Backtester), Portfolio & Risk Management (PMS), Treasury & Settlement, and Post-Trade Analytics. The Data & Analytics line, anchored by the acquired Coin Metrics business, provides market data, on-chain data, prices, indexes, and datonomyTM. Together these products span the full trade lifecycle from price discovery to execution, risk management, and settlement.
Differentiator
Problem solved
Functional benefit
Brands
- Coin Metrics: Crypto financial intelligence, market data, blockchain analytics, and benchmarks, integrated into the Talos platform as the Data & Analytics product suite following its 2025 acquisition.
- datonomy
- Sonic
Products and services
- Talos Trading Platform Institutional-grade Order and Execution Management System for digital assets with FIX, REST and WebSocket connectivity, multi-dealer RFQ, execution algorithms and smart order routing across 50+ exchanges and OTC desks; supports spot, futures, perpetuals, options (via Deribit) and unified derivatives risk views.
- Talos White Label
Companies that use Talos
Customer profileIdeal customer profiles4 records
Talos technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration15 records
AI capability6 records
Feature12 records
Talos partnerships and signals
Strategic signalRecent moves11 records
Expansion highlights6 records
Talos competitors and assessment
Company assessmentDirect peers
- FalconX: Institutional digital asset prime brokerage and trading platform serving hedge funds, asset managers and corporates — directly comparable to Talos's institutional trading, credit and execution offering.
- Coinbase Prime: Coinbase's institutional brokerage and trading platform providing custody, execution and financing for institutions — overlaps directly with Talos Trading Platform, RFQ and white-label services.
- Cumberland (DRW Trading): One of the largest crypto liquidity providers and OTC desks, also an investor in Talos's Series B; competes directly with Talos's RFQ, smart order routing and white-label liquidity offerings.
- Galaxy Digital: Full-service institutional digital asset platform spanning trading, asset management, mining and treasury — directly comparable to Talos across institutional trading and prime services, and an early Talos investor.
- Hidden Road (Ripple Prime): Institutional prime brokerage for digital assets acquired by Ripple; offers credit, execution and clearing services competing with Talos's institutional execution, RFQ and treasury workflows.
- Wintermute: Leading crypto-native market maker and OTC liquidity provider; competes with Talos's smart order routing and RFQ platform on liquidity, spreads and execution quality for institutional clients.
- QCP Capital: Asia-headquartered digital asset trading firm and liquidity provider; comparable to Talos's RFQ and derivatives execution offering and also a strategic investor in Talos's Series B extension.
- B2C2: Institutional crypto liquidity provider and OTC desk — a direct competitor to Talos's RFQ platform and white-label liquidity routing for institutional and broker-dealer clients.
- Kaiko: Institutional crypto market data and analytics provider; directly comparable to the Coin Metrics data products now part of Talos and competes for institutional data and index subscriptions.
Broad incumbents
- Trading Technologies (TT): Established institutional OEMS and execution infrastructure provider in traditional markets, now expanding into crypto — competes with Talos Trading Platform for cross-asset institutional execution mandates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Talos social profiles
Digital presenceTalos compliance and trust
Trust signalCompliance1 record
Talos financial estimates
Financial estimateRevenue estimate
Valuation estimate
Talos leadership team
Management profileNumber of profiles
Profiles7 records
Talos subsidiaries and ownership
Company hierarchySubsidiaries4 records
Talos funding detail
Funding detailFunding overview
Funding rounds6 records
Investors33 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Talos M&A and investment
M&A and investmentM&A4 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Talos
What does Talos do?
Talos provides an institutional-grade, API-first digital asset trading and portfolio management platform comprising an Order and Execution Management System (OEMS), a smart order router, execution algorithms, a multi-dealer RFQ platform, portfolio construction and optimization, real-time portfolio and risk management, treasury and settlement, and post-trade analytics. The platform connects to approximately 60 exchanges and OTC desks and over 110 providers via FIX, REST and WebSocket APIs, and is sold as quote-based annual SaaS subscriptions to institutional clients, with a white-label OEM offering that lets brokers, neobanks and retail platforms embed Talos under their own brand.
Is Talos a public or private company?
Talos is a private company. It is classified as venture growth investor backed and is currently operating.
When was Talos founded?
Talos was founded in 2018. It employs 11 to 50 people.
Where is Talos based?
Talos is headquartered in New York, United States, in the North America region.
How does Talos make money?
Four revenue lines are on record. Institutional SaaS Subscriptions are the primary driver. The others are white-Label Brokerage-as-a-Service, market Data & Analytics (Coin Metrics) and professional Services & Implementation.
Who are Talos's main competitors?
Direct peers on record are FalconX, Coinbase Prime, Cumberland (DRW Trading), Galaxy Digital, Hidden Road (Ripple Prime), Wintermute, QCP Capital, B2C2 and Kaiko. Trading Technologies (TT) is listed as a broad incumbent.
Does Talos have an API?
Yes. Talos provides institutional clients with API access available via FIX, REST, and WebSocket for trading, portfolio management, treasury and settlement workflows. APIs support connectivity to 50+ exchanges and OTC desks, multi-dealer RFQ, smart order routing, execution algos, white-label GUI integration, portfolio rebalancing, settlement, and post-trade analytics. FIX and WebSocket APIs are available for streaming execution. Coin Metrics data products are delivered via APIs (docs.coinmetrics.io/api/v4/). API keys can be self-installed for same-day deployment. Developer documentation is at docs.coinmetrics.io/api/v4.
What industry is Talos in?
Talos's product category is Institutional Digital Asset Trading Infrastructure. Its primary akta.pro industry code is FSAFAEAB, Institutional Multi-Asset Trading Platforms (OTC/RFQ). Its NAICS code is 5232 and its SIC code is 6200.