Taurus raised $65 million
Luisa Crawford Feb 17, 2023 09:06
Credit Suisse, Deutsche Bank, Arab Bank Switzerland, and others invested $65 million in digital asset infrastructure provider Taurus.
The Series B capital round for Taurus, a company that specializes in providing digital asset infrastructure to financial institutions in Europe, was led by Credit Suisse and brought in a total of $65 million. In addition, a number of additional institutional investors, such as Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, and Investis, took part in the investment round.
The announcement made on February 14 stated that the funds that were raised by Taurus would be used to strengthen its growth strategy in three primary areas: recruiting top engineering talent to continue developing its platform; expanding its sales and customer success organization to enhance its infrastructure solutions with new offices in Europe, the UAE, and later in the Americas and Southeast Asia; and finally, maintaining the most stringent security, risk, and compliance requirements across all of its operations.
Taurus has formed collaborations with over 25 different financial institutions and business customers across eight countries and three continents. These ties span the globe. Taurus counts Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote, and Vontobel among its clientele. Other customers include Credit Suisse, Swissquote, and Vontobel.
Through the digitization of private assets, Taurus believes there is a significant opportunity for the digital asset business to achieve a value of more than $10 trillion. The business has previously participated in the tokenization of 15 projects with a variety of issuers situated in Switzerland and the European Union. These issuers include banks, asset managers, small and medium-sized companies, and startups. In addition, a publicly listed insurance firm has just selected Taurus as their platform of choice for tokenizing actual assets.
Companies dealing in digital assets continue to seek financing despite the fact that the price of cryptocurrencies is in a bear market so that they may continue to expand and innovate within the ecosystem.
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