Finance & Economics

Taurus Raises $65 Million to Grow Digital Asset Platform

Taurus, a Swiss-based company, has attracted $65 million in investments following a Series B funding round.

Taurus Raises $65 Million to Grow Digital Asset Platform

Source: Pixabay.com

The firm intends to spend the received funds on the development of its digital asset platform. The company’s current plans also provide for the activation of the process of distributing services internationally. The relevant information is contained in a press release published by the firm.

The Series B funding round was led by Credit Suisse. Other investors also took part, including Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, and real estate groups listed on the stock exchange.

Soon, the company intends to open its offices in several European countries and the UAE. The subsequent activation of work at the international level provides for the appearance of representative offices of the firm in Southeast Asia, and North and South America. The company already works with 25 financial institutions and corporate clients in eight countries and on three continents.

Taurus is currently the leading provider of digital asset infrastructure for financial institutions in Europe.

Andre Helfenstein, CEO of Credit Suisse, said that the strategic partnership with Taurus is the cornerstone of the strategy of the bank’s digital assets division, aiming to become the leading Swiss bank in this area.

Sabih Behzad, head of the digital asset and currency transformation at Deutsche Bank, said that the financial institution is integrating Taurus technology into its own IT environment. He also noted that this technology will become a key part of the digital asset storage platform.

With the new funding, Taurus will expand the team of engineers to improve its platform and service any type of digital assets, including cryptocurrencies, tokenized securities, and digital currencies.

As we have reported earlier, PhonePe Raises $100 Million.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.