Taurus has seen significant growth in recent years, expanding its client base to institutional investors, family offices, and other financial service providers. In addition, the crypto firm just completed a funding round, raising $65 million. Two major banks, Credit Suisse and Deutsche Bank supported the funding round and contributed significantly to the investment.
With the new funding, Taurus plans to expand its offerings further and provide innovative solutions for the digital asset market.
Taurus Commits To Its Platform Improvement
Taurus is a Swiss-based fintech company that provides infrastructure and tools for digital asset trading and custody. The company has been experiencing rapid growth in recent years as more and more investors turn to cryptocurrencies as a viable investment option.
With the new funding, Taurus plans to expand its offerings and further enhance its technology and infrastructure to meet the growing demand for digital asset services. In addition, the firm announced that it would leverage the funds from the Series B fundraiser to engage more hands that will develop the platform by providing more clients security and worldwide expansion.
The firm intends to open branches in the UAE (United Arab Emirates) and Europe and expand to South-East Asia and America. To achieve this aim, certain giants in the financial sector led the funding round. These financial icons include Credit Suisse, Deutsche Bank, Pictet Group, Cedar Mundi, and Investis Holding. The funding round also included contributions from a venture capital firm, Arab Bank Switzerland.
Meanwhile, Credit Suisse and Deutsche Bank are both established financial institutions with a strong presence in the global financial market. Their decision to invest in Taurus signals a growing interest in the digital asset industry and the potential for blockchain technology to revolutionize traditional finance.
In a statement, Taurus Managing Partner and co-founder Lamine Brahimi expressed his gratitude for the support of both Credit Suisse and Deutsche Bank. He stated they are thrilled to have Credit Suisse and Deutsche Bank as investors in Taurus. He added that this funding round would help them accelerate their growth and provide innovative solutions for clients.
The success of the round demonstrates the growing interest in the digital asset industry and the potential for companies like Taurus to provide much-needed infrastructure and tools for investors and institutions entering the space.
Credit Suisse And Deutsche Bank Take on The Investment
Deutsche Bank is not overly concerned about the bearish trend in the broader crypto market. On the contrary, the firm believes that the market’s current state creates a good investment opportunity.
Furthermore, a statement from its crypto management arm, DWS Group, reveals their thoughts on investing in a couple of German-powered digital asset organizations, Tradias and DDA (Deutsche Digital Assets).
Regarding the investment in Taurus, the digital assets and currencies transformation in Deutsche Bank, Sabin Behza said that they’ll integrate Taurus tech in the bank’s IT environment. According to Behzad, such integration will simplify the development of digital asset custody offerings for their customers.
On the other hand, Credit Suisse Switzerland CEO Andre Helfenstein stated that this partnership with Taurus would help them become the leading Swiss bank in digital assets services.
