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Citi, Wells Fargo, BNY Mellon Invest in Crypto Firm Talos as Institutional Adoption of Digital Assets Accelerates

Citi, Wells Fargo, BNY Mellon Invest in Crypto Firm Talos as Institutional Adoption of Digital Assets Accelerates

Several major financial services firms, including Citi, Wells Fargo, and BNY Mellon, are investing in institutional digital asset technology provider Talos, which aims to remove “the barriers to wide-scale crypto adoption.” The latest funding round values the company at $1.25 billion.

Citi, Wells Fargo, BNY Mellon Participate in $105M Funding Round for Digital Asset Tech Firm

A number of major financial services companies, including Citi and Wells Fargo, have joined a funding round for Talos, a global firm that provides institutional digital asset trading technology.

Talos announced a $105 million Series B funding round Tuesday that values the company at $1.25 billion.

“Our institutional-grade infrastructure technology supports the full lifecycle of digital asset trading, from price discovery to execution through to settlement,” its website describes, adding that “Talos is removing the barriers to wide-scale crypto adoption.”

The funding round was led by global growth equity firm General Atlantic, the announcement notes, adding:

New investors including Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, DRW Venture Capital, SCB 10x, Matrix Capital Management, Fin VC and Voyager Digital, Graticule Asset Management Asia (GAMA) and Leadblock Partners joined the round.

Existing Talos investors included Andreessen Horowitz (a16z), Paypal Ventures, Castle Island Ventures, Fidelity Investments, Illuminate Financial, Initialized Capital, and Notation Capital.

Anton Katz, co-founder and CEO of Talos, commented:

This funding round represents a major inflection point for the industry. We’ve long heard that ‘the institutions are coming.’ The institutions are now here, and we’re extremely proud to be the digital asset trading platform of choice for leading institutions around the world.

What do you think about major financial services companies investing in digital asset firms? Let us know in the comments section below.

Gravvity Launches Virtual Land In The First Mainstream Metaverse To Connect And Empower Community Members

Gravvity is introducing the first hyper-realistic social media metaverse dubbed the ‘Remix’ to connect and empower billions. Gravvity is a reimaged chatting app and social media platform with a metaverse created to empower its members. Gravvity’s metaverse is powered by Unreal Engine 5, an open and advanced real-time 3D creation tool. Blended with Gravvity’s social::Listen

Gravvity is introducing the first hyper-realistic social media metaverse dubbed the ‘Remix’ to connect and empower billions.

Gravvity is a reimaged chatting app and social media platform with a metaverse created to empower its members. Gravvity’s metaverse is powered by Unreal Engine 5, an open and advanced real-time 3D creation tool. Blended with Gravvity’s social app, the Remix completely changes the social experience for creators, friends, and businesses. The Remix is simple and user-friendly allowing members to socialize, play, explore, shop, and work together in any setting imaginable.

Gravvity’s mission is to empower people with economic opportunities and freedom in a social metaverse. Gravvity stands out for sharing its profits with its community, unlike its predecessors. The project rewards members daily with airdrops of GRAVY, the community token on the platform. Note, that each member receives these rewards based on their social activity such as chatting and socializing with friends. Users can also earn GRAVY by receiving rewards for creating content, engaging in content, viewing ads, growing their networks, trading NFTs, playing games participating in contests/challenges, and staking GRAVY tokens. 

The platform allows members control over their privacy, content, and data. Note, that users have control over what to see and can customize their notifications not to miss important calls or get disturbed by work conversations on non-work days. 

The Remix space has a total of 50,000 lands which are divided into main attraction zones. These zones feature real-world attractions and imaginary worlds. Notably, land owners can create attractions, shops, and businesses. Land owners can also host live events to reach and engage audiences in a new and immersive way. The first private land sale will be held in Q2 2022 with investors grabbing their share for as little as $150. 

The project is changing user interaction with the metaverse by removing the current cartoon video game design featuring most metaverse and introducing a more realistic experience. Gravvity hopes this approach will help over 7.9 billion people become more open to metaverse creating mainstream adoption. 

Notably, as the metaverse market is expected to reach $13 trillion by 2030 with over 5 billion users, Gravity is well-positioned to help with the mainstream adoption of the metaverse. Currently, the Gravvity team is working on launching its Gravvity social feed and chat app in the second quarter of 2022.

Citi, Wells Fargo, BNY Mellon Invest in Crypto Firm Talos as Institutional Adoption of Digital Assets Accelerates

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