Taurus, a digital asset infrastructure supplier for monetary establishments in Europe, has raised $65 million in a Sequence B capital increase led by Credit score Suisse. The funding spherical additionally noticed participation from a number of different institutional traders, together with Deutsche Financial institution, Pictet Group, Cedar Mundi Ventures, Arab Financial institution Switzerland, and Investis.
In keeping with the Feb. 14 announcement, the funds raised can be utilized by Taurus to bolster its development technique in three major areas: recruiting prime engineering expertise to proceed creating its platform; increasing its gross sales and buyer success group to reinforce its infrastructure options with new places of work in Europe, the UAE, and later within the Americas and Southeast Asia; and lastly, sustaining probably the most rigorous safety, danger and compliance necessities throughout product strains, processes and organizations.
Taurus has established partnerships with over 25 monetary establishments and company shoppers throughout eight nations and three continents. Taurus’s shoppers embrace monetary establishments equivalent to Arab Financial institution Switzerland, CACEIS, Credit score Suisse, Deutsche Financial institution, Pictet, Swissquote and Vontobel.
Taurus mentioned it sees huge potential for the digital asset business to achieve a worth of greater than $10 trillion by digitizing personal belongings. The corporate has already performed a task in tokenizing 15 offers with a spread of issuers, together with banks, asset managers, small and medium-sized enterprises, and startups based mostly in Switzerland and the European Union. Moreover, Taurus was lately chosen by a publicly-traded insurance coverage firm to tokenize actual belongings.
Associated: The historical past and evolution of the fintech business
Regardless of cryptobeing in a bear market, digital asset firms proceed to boost capital to develop and innovate throughout the ecosystem.
On Jan 24, Cointelegraph reported that blockchain improvement platform QuickNode closed a $60 million funding spherical as a part of a world growth supposed to onboard extra customers and builders to Web3 purposes. The Sequence B increase, which valued QuickNode at $800 million, was led by enterprise capital agency 10T Holdings, with participation from Tiger World, Seven Seven Six and QED.
