Series B Extension, Nasdaq Tokenized Collateral Partnership, OTC Options and Expanded Connectivity

In Q1 2026, Talos continued to build momentum as a leading institutional digital asset platform, expanding integrations, enhancing product capabilities, and deepening ties between traditional finance and digital assets. The quarter saw new connectivity across venues and liquidity providers, alongside continued innovation in trading tools, analytics and derivatives, published research on execution quality and market risk, and industry recognition, all of which further strengthened Talos's position at the center of institutional crypto markets.

News

• Talos extends Series B to $150M in strategic fundraise
• Nasdaq and Talos Partner to Advance Tokenized Collateral Management Across Mainstream and Digital Asset Markets
• Talos joins BNY's tokenized deposit initiative

Product updates

• Expanded RFQ platform with FalconX electronic OTC options integration – adds FalconX as a live electronic OTC options liquidity source on the RFQ platform
• I-Would-If-I-Could algo – executes against OTC dealer prices only when they beat exchange prices, based on user-defined "I Would" parameters
• Implied Volatility Surface Metrics – standardizes fragmented options markets into continuous, constant-maturity/constant-delta implied volatility, skew and realized volatility metrics for backtesting, sentiment analysis and risk modeling
• Expanded Coin Metrics Market Data Coverage with Hyperliquid – extends Coin Metrics market data to Hyperliquid's on-chain order books and perpetual markets
• BPS-based pricing and order entry – price and enter orders in basis points rather than absolute price terms
• Dynamic Delta Hedging now supports perp-based unified liquidity – hedge options delta across exchanges using a unified pool of perpetuals instead of one named instrument
• Expanded exchange flow coverage for stablecoins – broadens on/off-exchange stablecoin flow tracking across more venues
• Book leveraged derivatives and manage margin, funding and customer P&L – manage customer-facing leveraged derivatives from account setup through funding and settlement, with real-time margin and P&L tracking
• Expanded venue connectivity – added Kraken, Hyperliquid and Bitstamp perpetuals, and Gate.io perpetuals
• New provider connectivity – added Zodia (spot trading) and Steelcoin (tokenized commodities)
• Added support – xStocks tokenized equities and Ondo tokenized assets

Analyses and articles

• "VWAP or TWAP for Crypto Execution? A Market Impact Perspective" – Explains how intraday liquidity patterns and volume forecast accuracy should drive the choice between VWAP and TWAP execution strategies.
• "Why RFQ is Essential in Institutional Crypto Markets" – Examines why RFQ workflows are becoming essential to institutional crypto execution, from block trading to ETF create/redeem to OTC derivatives.
• "When One Ticket Grows Many Legs: The Complexity of Multi-Token ETF Create/Redeem Workflows" – Examines the operational complexity multi-token, actively managed crypto ETFs add to the create/redeem workflow for issuers and authorized participants.
• "Execution Alphas in Crypto Markets: Predicting Volume, Volatility, and Spreads to Reduce Slippage" – Shows how forward-looking predictions of volume, volatility and spreads feed the Talos Market Impact Model for smarter pre-trade decisions.

Talos Research

• Crypto's Constructive Start to 2026
• Uniswap Flips the Fee Switch: From Governance Token to Value Accrual
• Capital Concentration in an Expanding Crypto Universe
• January 2026 Market Update: Gold Gains, Crypto Consolidates
• Ethereum's Post-Fusaka Activity Surge: The Impact of Address Poisoning
• Coinbase Q4 2025 Earnings Outlook
• The Curious Case of USDC on Base
• February 2026 Market Update: Crypto Caught Between Gold & Growth
• Analyst Spotlight: AAVE
• Perpetually Open: Tokenized Gold & The Rise of 24/7 Onchain Markets
• A $50M DEX Swap With a $36K Outcome
• Transaction Priority & Block Building on Ethereum
• Q1 2026 Review: Crypto Markets Reset as Traditional Assets Go 24/7

See the full archive →

Discussions and appearances

• "Scaling Institutional Digital Asset Trading and Investment Capabilities: Choosing the Right Track for Dependable Services" – e-Forex feature on what institutions need to scale digital asset execution, risk controls and portfolio visibility, featuring Kyle Downey, Head of Product Strategy at Talos
• "Running Critical Crypto Infrastructure Under Pressure" – Panel discussion at the Digital Chamber's DC Blockchain Summit 2026, featuring Josh Peschko, Global Head of Compliance and Regulatory Strategy at Talos

Awards

• Pamela Lee Named as Startup Professional of the Year -  WatersTechnology's Women in Technology & Data Awards 2026
• Talos shortlisted in 12 categories -Hedgeweek Global Digital Assets and European Awards in 2026

New integrations

• xStocks
• Virtu Financial
• Nasdaq
• Selini Capital FZE

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To find out more information about Talos and our solutions, request a demo with our team.

^{‍Talos Disclaimer: Talos offers software-as-a-service products that provide connectivity tools for institutional clients. Talos does not provide clients with any pre-negotiated arrangements with liquidity providers or other parties. Clients are required to independently negotiate arrangements with liquidity providers and other parties bilaterally. Talos is not party to any of these arrangements. Services and venues may not be available in all jurisdictions}