A16z-backed Talos Trading plans to increase its Asia-Pacific staff in reaction to cryptocurrency adoption, emphasizing business growth and engineering.
Talos Trading Inc., a prominent provider of crypto trading software, intends to expand rapidly in the Asia-Pacific (APAC) region. The company plans to double its regional personnel within the next year, focusing on positions in engineering, product management, client services, and business development.
Talos’s ambitious expansion reflects the region’s dominance in the global crypto market, particularly in countries such as Hong Kong, Singapore, and Japan, where regulatory clarity has cultivated robust crypto ecosystems.
During a recent interview, Samar Sen, the president of APAC at Talos, observed that Asia contributes significantly to the bottom line of global digital-asset companies. He emphasized that many of Talos’ top clients operate within the APAC region, as indicated by their trading volume. Talos’ objective with the recruiting initiative is to leverage the increasing demand for institutional-grade digital-asset services in these markets.
Even though the United States has been traditionally regarded as the global hub for digital assets, the Securities and Exchange Commission (SEC)’s recent regulatory crackdowns have compelled numerous companies to seek growth opportunities in other regions.
In the past year, numerous prominent entities, including OKX, Coinbase, and GSR Markets, have obtained permits in Singapore, capitalizing on the nation’s crypto-friendly policies. Similarly, Hong Kong has implemented cryptocurrency-focused exchange-traded funds (ETFs) as part of its progressive licensing framework.
The early crypto adoption in the APAC region also drives the surge in institutional interest. “Compared to the United States and Europe, the derivatives market in Asia is significantly more sophisticated,” Sen observed. However, Talos reports that its APAC division is on par with its US and EMEA (Europe, the Middle East, and Africa) teams in revenue generation, despite APAC operations typically contributing 10-15% of global revenue for firms in traditional finance. This underscores the region’s significance.
Regarding Talos
Talos, established in 2018, has rapidly established itself as a leader in the cryptocurrency industry by offering institutional clients trading and settlement services. The company attained unicorn status after $105 million and $40 million in funding rounds between 2021 and 2022. It has garnered the backing of prominent figures in the crypto industry, including General Atlantic and Andreessen Horowitz (a16z).
Talos’ comprehensive technology infrastructure enables clients to execute trades efficiently, aggregate prices from various sources, and expedite the entire trade lifecycle. This is particularly noteworthy.
We are rapidly expanding the APAC market
The expansion into APAC is consistent with the growing trend of cryptocurrency adoption in the region. Macro hedge funds and asset managers are increasingly entering the crypto sphere, while countries such as Singapore and Hong Kong are establishing regulatory frameworks to facilitate the development of virtual assets.
In contrast, crypto adoption remains remarkably high in countries such as India, where the crypto regulatory environment and significant tax burdens are uncertain.
“As buyers, we are currently witnessing an increase in the number of macro hedge funds and asset managers entering the digital asset space,” stated Sen. He also observed the increasing involvement of banks in the sector, which represents a departure from the early days when the majority of conventional financial institutions were hesitant to engage with cryptocurrencies.
