Following this announcement, the institutional-grade digital asset infrastructure provider Taurus is set to open a new office in Frankfurt, Germany, aiming to optimise and accelerate its international growth process, as well as the reinforcement of technology development in the region of Europe.
This expansion follows the increasing demand for digital asset custody and tokenisation solutions in Germany, from multiple corporations, firms, and financial institutions, as well as the framework clarification that was released by Bafin, Germany’s financial regulator. These include the eWPG `Electronic Securities Act`, which is expected to facilitate the tokenisation securities adoption and crypto registrar in order to offer a framework for digital asset custody solutions.
Taurus had multiple collaborations and developments in the last couple of months, covering several different geographic areas around the world.
In September 2023, Deutsche Bank announced its partnership with Taurus in order to integrate the latter’s technology for the process of establishing digital asset custody and tokenisation solutions for customers around the world. The collaboration followed an extensive selection procedure, during which Taurus showcased the quality and range of its products, as well as its expertise and technology.
According to the press release published at the time, the collaboration aimed to allow Deutsche Bank to accelerate its digital asset-focused initiatives, while also focusing on meeting the needs, preferences, and demands of its customers and users in an ever-evolving industry. As the digital asset space was expected to encompass trillions of dollars of assets, the strategic deal was expected to enable the financial institution to develop its suite of tools as well.
Earlier in February 2023, Taurus announced the rise of a USD 65 million Series B capital increase, led by Credit Suisse and including the participation of new institutional investors, such as Cedar Mundi Ventures, Deutsche Bank, the Pictet Group, Arab Bank Switzerland, and Investis. The company aimed to use these funds in order to optimise and accelerate its development process, focusing on three main areas. These included the process of hiring engineering specialists, which aimed to optimise its platform, as well as focusing on customer proximity and the overall expansion of sales and client support with new branches in Europe, the United Arab Emirates, as well as plans for America and Southeast Asia in the future.
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