Swiss-based fintech firm Taurus has secured a total of $65 million in funding from a Series B fundraising round. The funding round was led by two major banks, Credit Suisse and Deutsche Bank, with contributions from other financial powerhouses like Pictet Group, Cedar Mundi, Investis Holding, and Arab Bank Switzerland.
Taurus provides digital asset trading and custody infrastructure and tools, which have attracted a growing number of institutional investors, family offices, and other financial service providers in recent years.
The firm intends to leverage the funds from the recent fundraising round to expand its offerings further, improve its technology and infrastructure, and engage more personnel.
With the new funding, Taurus plans to open branches in the United Arab Emirates and Europe and expand to Southeast Asia and America.
This move is in response to the growing demand for digital asset services and the potential for blockchain technology to revolutionize traditional finance.
The participation of Credit Suisse and Deutsche Bank in the funding round is a strong signal that traditional financial institutions are increasingly interested in the digital asset industry.
According to Taurus Managing Partner and co-founder Lamine Brahimi, the investment will help the firm accelerate its growth and provide innovative solutions for clients.
Taurus has experienced significant growth in recent years, providing infrastructure and tools for digital asset trading and custody.
The success of this funding round demonstrates the growing interest in the digital asset industry and the potential for companies like Taurus to provide the necessary infrastructure and tools for investors and institutions entering the space.
Deutsche Bank is bullish on the potential of the digital asset market and sees the current bearish trend as a good investment opportunity.
This sentiment is shared by many traditional financial institutions that are increasingly exploring the potential of blockchain technology and digital assets.