Taurus raises USD 65 million to develop digital asset platform

Wednesday 15 February 2023 15:16 CET | News

Switzerland-based digital asset infrastructure provider Taurus has announced a USD 65 million Series B capital increase.

The Series B financing round for Taurus is led by Credit Suisse and includes the participation of new institutional investors such as Deutsche Bank, the Pictet Group, and Cedar Mundi Ventures, as well as Series A financing investors Arab Bank Switzerland, and Investis, a public real estate group. The Taurus cofounders remain Taurus' major shareholders and continue to lead the company. The Swiss supervisory authority FINMA has already approved this transaction.

Taurus will use these funds to support the company's growth strategy in three key areas. Firstly, in the hiring of engineering specialists to further develop their platform. Additionally, Taurus will be focusing on customer proximity and expansion of sales and customer support with new branches in Europe, the United Arab Emirates, and, in the foreseeable future, also in America and Southeast Asia. The infrastructure provider also wants to adhere to the strictest security policies, risk management, and compliance requirements for all product lines, processes, and organisations.

Taurus’ clients

Taurus currently works with over 25 financial institutions and corporate clients in eight countries on three continents. This includes the entire spectrum of financial institutions, such as systemically important financial institutions, retail and online banks, private banks, crypto banks, investment banks, and broker-dealers. Clients include banks such as Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote, and Vontobel.


Investors Credit Suisse and Deutsche Bank

According to a Credit Suisse representative, the strategic partnership with Taurus is a cornerstone of the Swiss Bank division's digital assets strategy. Credit Suisse stated that Taurus continues to invest in innovative technologies and expect to soon be able to offer multiple digital asset services to their clients, both on the issuance and investment side.

Germany-based digital asset infrastructure provider Taurus has announced a USD 65 million Series B capital increase.

Additionally, Deutsche Bank has stated that they will integrate Taurus' technology into their IT environment. This will be an important part of Deutsche Bank’s digital asset custody platform and will make it easier for them to further develop their digital asset custody offering. With this investment, Deutsche Bank aims to participate in the development of the market for digital assets.

Taurus’ range of services 

Taurus has continually invested in proprietary technology to enable clients to manage all digital assets. The range of services offered by Taurus includes, among other things Taurus-PROTECT for custody which ensures secure storage and transmission of hundreds of digital assets, including support for staking, decentralised finance (DeFi), tokenised securities and digital currencies. They also offer Taurus-CAPITAL for tokenisation, which enables issuance, delivery and lifecycle management for all types of tokenised assets (equity, debt, structured finance, real assets, NFTs). Additionally, Taurus' T-DX platform is one of the first regulated marketplaces in the world and enables trading of tokenised securities.

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Keywords: investment, digital assets, virtual asset, DeFi, tokenization
Categories: Banking & Fintech
Companies: Taurus
Countries: Switzerland
This article is part of category

Banking & Fintech


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