Citigroup, BNY Mellon, and Wells Fargo have joined a $105 million Series B funding round of the cryptocurrency trading technology company Talos.
BTCUSD is up +4.66%, ETHUSD is up +6.65%
The round, which now places Talos at a valuation of $1.25 billion, has reportedly underscored the development in Wall Street around cryptocurrency adoption.
The raise was led by technology investor General Atlantic and also featured Fidelity Investments, Andreessen Horowitz, and Paypal Ventures.
The announcement comes amid a cryptocurrency market crash and development around the required regulatory framework in digital currency.
The move has reportedly been interpreted as a new way that the financial groups are looking to make crypto investments safe and prepare for a possible transformation of the traditional financial instruments.
The head of digital assets at BNY Mellon, Mike Demissie, says that crypto is just the beginning and that other assets will be tokenized in the future and hosted in a blockchain.