Institutional Crypto Adoption: Insights from Samar Sen on Blockcast Podcast

In a recent episode of Blockcast, host Takatoshi Shibayama speaks with Samar Sen, Head of APAC at Talos, about the evolving landscape of institutional crypto trading. Their discussion covers the growth of institutional adoption, regulatory challenges, the rise of prime brokerage, and the future of tokenized assets.

From Wall Street to digital assets

Samar Sen shares his career transition from Goldman Sachs and Deutsche Bank to the digital asset space. While working at Deutsche Bank, he saw increasing demand from institutional clients for professional digital asset services, including custody and brokerage. This realization led him to Talos, a firm focused on delivering institutional-grade SaaS solutions for crypto trading.

How Talos supports institutions entering digital assets

Talos provides trading infrastructure for hedge funds, asset managers, banks, brokers, fintechs and other types of buy-side and sell-side institutions. Their solutions include:

• Connectivity: Access to multiple liquidity providers, including centralized exchanges, market makers, OTC desks, and DeFi platforms.
• Algorithmic Execution: Trading tools such as TWAP (Time-Weighted Average Price), VWAP (Volume-Weighted Average Price), and RFQs (Request for Quotes) to execute large trades efficiently.
• Risk Management: Portfolio analytics, risk calculations, and compliance tools.
• Treasury and Settlement: Solutions to manage capital efficiently across multiple trading venues and custodians.

The role of big banks in crypto

Samar believes that while large banks will always play a role in institutional finance due to their regulatory compliance and trusted reputation, they have been slower to innovate in digital assets. Meanwhile, crypto-native firms are developing the infrastructure that institutions need. The future may involve a convergence where banks acquire or partner with crypto service providers to better serve institutional investors.

Trends in institutional crypto markets

Several key trends are shaping the institutional adoption of crypto in 2025 and beyond:

• Growing institutional demand: More hedge funds, asset managers, and corporations are seeking exposure to digital assets.
• Expansion of prime brokerage services: Traditional finance relies on prime brokers for credit and lending, but the crypto market still lacks strong credit and lending infrastructure. More prime brokers are expected to enter the space.
• Increased tokenization of assets: Real-world assets such as stocks, bonds, and real estate are being tokenized to improve trading efficiency and market access.
• Stablecoins and blockchain payments: Banks and payment providers are beginning to replace legacy systems with blockchain-based stablecoin transactions, leading to greater efficiency.

APAC's is unique digital assets landscape

The Asia-Pacific (APAC) region has emerged as a major player in the global digital asset market due to:

• Regulatory progress: Countries like Hong Kong, Singapore, and Japan have introduced clear regulations for digital assets, creating a business-friendly environment.
• High adoption of digital payments: Many APAC markets have already embraced cashless and branchless banking, making the transition to digital assets smoother.
• Derivatives and structured products leadership: APAC has a strong tradition of derivatives trading, with many investors seeking higher-yield structured products.
• Crypto-fintech Integration: The presence of super apps, fintech platforms, and regional banks in APAC has led to rapid crypto adoption.

The future of tokenized securities

One of the most transformative developments in digital assets is the tokenization of traditional securities. According to Samar, tokenization can:

• Enable instant settlement: Unlike traditional stock trades that take 2 days to settle, tokenized assets can be traded and settled instantly.
• Improve market liquidity: Investors could trade fractional shares of assets, reducing entry barriers.
• Increase operational efficiency: Automating processes such as dividend distribution and bond servicing can significantly reduce costs for financial institutions.

Although the majority of trading today still happens in crypto-native assets, Samar believes the future will include a broad range of tokenized financial instruments. However, challenges such as regulatory clarity, infrastructure standardization, and the development of secondary markets must be addressed before tokenization reaches widespread adoption.

Final thoughts

The institutional crypto market is evolving rapidly, and Talos is at the forefront of providing the infrastructure needed for secure, scalable, and efficient trading.

As the industry moves forward, several key developments are expected:

• More institutional investors entering the space.
• Greater regulatory clarity leading to increased adoption.
• Expansion of tokenized financial products and blockchain-based settlements.
• Continued integration of traditional finance and digital assets.

You can follow Samar Sen and Talos on LinkedIn.

‍