a16z-backed crypto firm Talos plans to double APAC headcount within 12 months

Odaily News Talos Trading Inc., a provider of digital asset trading software, plans to double its headcount in the Asia-Pacific region over the next 12 months. The New York-based company has identified Asia as a key market, thanks to its deep crypto industry roots and the regulatory clarity offered by regions such as Hong Kong, Singapore and Japan. “Asia has performed well in terms of its contribution to the profits of global digital asset companies,” Samar Sen, Talos’ head of Asia-Pacific, said in an interview. “Many of Talos’ top clients by trading volume are companies in the Asia-Pacific region,” he said, adding that the recruitment drive will focus on business development, customer service, and product and engineering positions. Sen said that because many early cryptocurrency adopters are concentrated in the region, “there are also many complex transactions in the derivatives space in Asia, much more than in the United States and Europe.” A Talos spokesperson said that compared with traditional financial businesses (APAC operations typically contribute 10-15% of global revenue for multinational companies), Talos’ APAC division contributes on par with its U.S. and EMEA teams and is a key market for the business. Talos received $40 million in Series A funding in 2021, led by a16z, with participation from PayPal Ventures and Fidelity Investments. (Bloomberg)