Digital asset infrastructure provider Taurus has secured multi-million USD investments from major banking institutions. The success of this funding round comes in the aftermath of negative developments in the crypto space and demonstrates that traditional financial giants remain engaged in the market despite their woes.
Credit Suisse, Deutsche Bank invest in digital asset firm Taurus amid ongoing crypto winter
Swiss crypto firm Taurus SA has raised $65 million in a Series B funding round led by banking giant Credit Suisse. Three other major financial institutions, Deutsche Bank, Pictet Group, and Arab Bank Switzerland, and real estate group Investis also participated.
Taurus, a leading provider of digital asset infrastructure for European financial institutions, said it will continue to invest in further developing its platform for services related to cryptocurrencies, other digital assets and tokenized securities, including hiring talented engineering talent
The Geneva-based company also announced its intention to accelerate the expansion of technology sales by opening new offices in Europe and the United Arab Emirates, as well as North and South America and Southeast Asia a little later. The goal is to get closer to customers around the world.
Another priority emphasized by the crypto firm is to maintain strict security while meeting risk and compliance requirements. Licensed by the Swiss Financial Market Supervisory Authority (FINMA), Taurus currently operates in eight countries, Bloomberg noted in its report.
The financing transaction has been approved by the supervisory authority, the company stressed. It also said that the four co-founders, Ramin Brahimi, Sebastien Desimoz, Oren-Olivier Puder, and Jean-Philippe Aumasson, remain the largest shareholders and continue to lead the company. Brahimi commented:
Raising $65 million in the current market environment is a testament to the quality of Taurus’ people and products.
“We are proud to welcome such high-profile investors and benefit from their expertise to further develop one of the richest platforms in the industry, covering all types of digital assets, far beyond cryptocurrencies,” Management Partner added.
Credit Suisse CEO Andre Helfenstein asserted that the partnership with Taurus is a cornerstone in the bank’s Swiss division’s digital assets strategy. He elaborated, “We continue to adopt new and innovative technologies and will soon launch several digital asset services for our clients on both the issue and investment side.”
Such deals, while very few in recent times, have taken place amid shaky investor confidence in the crypto market.