Taurus, a digital asset infrastructure provider for financial institutions in Europe, has raised $65 million in a Series B capital raising led by Credit Suisse. Several other institutional investors also participated in the funding round, including Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland and Investis.
According to announcementThe funds raised will be used by Taurus to support its growth strategy in three main areas, including; attracting the best engineers to continue developing its platform, expanding sales and customer experience to improve its infrastructure solutions with new offices in Europe, the UAE, and then in America and Southeast Asia, and finally maintaining the strictest security, risk , and compliance requirements for product lines, processes, and organizations.
Taurus has established partnerships with over 25 financial institutions and corporate clients in eight countries and three continents. Taurus’ clients include financial institutions such as Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote and Vontobel.
Taurus said it sees huge potential for the digital asset industry to reach over $10 trillion in value through the digitization of private assets. The company has already participated in the tokenization of 15 transactions with a range of issuers, including banks, asset managers, small and medium-sized enterprises (SMEs) and start-ups based in Switzerland and the European Union. In addition, a recently publicly traded insurance company has chosen Taurus to tokenize real assets.
History and evolution of the fintech industry
Despite the bear market, digital asset companies continue to raise capital to grow and innovate within the ecosystem.
On January 24, Cryptooshala reported that blockchain development platform QuickNode closed a $60 million funding round as part of a global expansion aimed at attracting more users and developers to Web3 applications. The Series B attraction, which valued QuickNode at $800 million, was led by venture capital firm 10T Holdings with input from Tiger Global, Seven Seven Six and QED.
Credit : cointelegraph.com
