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

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 is a standout contributor to the profits of digital asset companies around the world,” 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 hiring drive will focus on business development, customer service, and product and engineering positions. Sen said that with many early cryptocurrency adopters concentrated in the region, “there are also a lot of complex transactions in the derivatives space in Asia, much more than in the U.S. and Europe.” A Talos spokesperson said that compared to traditional financial businesses, where Asia-Pacific operations typically contribute 10-15% of global revenue for multinational companies, Talos’ Asia-Pacific unit 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)