Digital Asset Supplier Raises $65M in Collection B Led by Credit score Suisse

Taurus, a digital asset infrastructure supplier for monetary establishments in Europe, has raised $65 million in a Collection 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. 

Based on the announcement, the funds raised shall be utilized by Taurus to bolster its progress technique in three major areas, which embrace; recruiting prime engineering expertise to proceed growing its platform, increasing its gross sales and buyer success group to boost 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, threat, and compliance necessities throughout product strains, processes, and organizations.

Taurus has established partnerships with over 25 monetary establishments and company shoppers throughout eight international locations and three continents. Taurus’s shoppers embrace monetary establishments similar to Arab Financial institution Switzerland, CACEIS, Credit score Suisse, Deutsche Financial institution, Pictet, Swissquote, and Vontobel.

Taurus stated it sees huge potential for the digital asset business to achieve a price of greater than USD 10 trillion by digitizing personal property. The corporate has already performed a task in tokenizing 15 offers with a variety of issuers, together with banks, asset managers, small and medium-sized enterprises (SMEs), and startups based mostly in Switzerland and the European Union. Moreover, Taurus was not too long ago chosen by a publicly-traded insurance coverage firm to tokenize actual property.

Associated: The historical past and evolution of the fintech business

Regardless of being in a bear market, digital asset corporations 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 enlargement supposed to onboard extra customers and builders to Web3 purposes. The Collection 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.