Talos, a crypto trading engineering startup, has raised $105 million in Series B funding, with new investors including Citi (C), Wells Fargo (WFC), and BNY Mellon (BK).

Talos is expected to announce the money round on Tuesday, giving the company a $1.25 billion valuation. The round included existing investors a16z, PayPal, Fidelity, and Castle Island Ventures.

The New York-based company was launched in 2018 and provides financial institutions with technology to assist digital asset trading. Liquidity access, direct market access, price discovery, automated execution, clearing, and settlement are all available through its platform.

Around a year ago, it raised $40 million in Series A funding.

Talos will use the funds to expand and diversify its platform, as well as expand its product offerings to serve end-to-end trade lifestyles in APAC and Europe.

The large fundraising, which included such well-known names in mainstream banking, indicates financial institutions’ desire for partners and tools that will help them speed their digital asset trading plans.