Digital asset infrastructure provider Taurus has obtained millions of US {dollars} in financing from leading banking institutions. This prosperous investment is possible in spite of the negative trends in the crypto space, which indicates that traditional finance giants remain committed to the market.
Credit Suisse Deutsche Bank Invest in Digital Asset Firm Taurus Despite Crypto Winter
Swiss Crypto company Taurus SA has raised $65million in a Series B funding round led by Credit Suisse. Three additional major financial institutions—Deutsche Bank, Pictet Group, Arab Bank Switzerland—as well as the real estate firm Investis Participants also took part.
Taurus, a leading provider of digital asset infrastructure to financial institutions in Europe, stated that it would continue to invest in the development of its platform that offers services related to cryptocurrencies and other digital assets as well as by hiring the most talented engineers.
The Geneva-based firm, which is based in the United States, also revealed that it plans to extend its sales force by opening new offices in Europe, the United Arab Emirates, North and South America, and Southeast Asia. The goal is to reach out to customers worldwide.
The crypto company emphasizes the importance of maintaining stringent security, meeting risk and compliance. Taurus has been granted a license by the Swiss Financial Market Supervisory Authority (FINMA) which currently operates in eight countries, according to a report by Bloomberg.
The firm stressed that its financial transactions have been approved by the regulator. He also stated that its four co-founders, Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder and Dr. Jean-Philippe Aumasson, remain the main shareholders and remain at the helm. Brahimi commented:
Raising $65 Million in the current market speaks volumes about the quality of people and products at Taurus.
“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 any type of digital asset, well beyond cryptocurrencies,” The managing partner also added.
Credit Suisse CEO André Helfenstein insisted that the partnership with Taurus is an integral part of the Swiss arm’s digital asset strategy. “We continue to embrace new and innovative technologies and look forward to launching various digital asset services for clients on both the issuance and investment sides soon,” he explained.
These are only a few of the recent crypto market investors who have lost faith in the crypto market. The crypto market experienced a value crash last year and a series of high-profile collapses including the one on major crypto exchange FTX. At the same time, another survey revealed that there was no evidence of the Zug-focused Swiss Crypto Valley being impacted by the storm.
It’s likely that we will be seeing more big financial investments in crypto companies in the near future. Feel free to leave comments below.
