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Swiss Crypto Company Taurus Raises $65 Million From Credit Suisse, Other Banks


Digital asset infrastructure provider Taurus has received millions of US dollars of investment from major banking institutions. The successful funding round comes after negative developments in the crypto space, indicating that big traditional finance players continue to participate in the market despite its challenges.

Credit Suisse and Deutsche Bank invest in digital asset firm Taurus amid ongoing crypto winter

Swiss crypto firm Taurus SA has raised $65 million in a Series B funding round led by banking giant Credit Suisse. Three other major financial institutions – Deutsche Bank, Pictet Group, Arab Bank Switzerland – and real estate group Investis also took part.

Taurus, a leading provider of digital asset infrastructure for financial institutions in Europe, said it will continue to invest in the further development of its platform, offering services related to cryptocurrencies, other digital assets and tokenized securities, including by hiring the best engineers.

The Geneva-based company also announced that it intends to accelerate the expansion of its technology sales by opening new offices in Europe and the United Arab Emirates, as well as in North and South America and Southeast Asia at a later date. The goal is to get closer to our customers around the world.

Another priority highlighted by the crypto firm is maintaining strong security while meeting risk and compliance requirements. Taurus licensed by the Swiss Financial Market Supervisory Authority (FINMA), currently operating in eight countries, according to a Bloomberg report.

The financing deal was approved by the supervisory authority, the company stressed. He also stated that his four co-founders, Lamine Brahimi, Sebastian Dessimo, Auren-Olivier Pouder and Dr. Jean-Philippe Aumasson, are still the largest shareholders and remain at the helm. Brahimi commented:

Raising $65 million in current market conditions says a lot about the quality of Taurus’ people and products.

“We are proud to welcome such high-profile investors and use their experience to further develop one of the richest platforms in the industry, spanning any type of digital asset beyond cryptocurrencies,” added the managing partner.

Credit Suisse CEO Andre Helfenstein insisted that the partnership with Taurus is the cornerstone of the bank’s Swiss digital asset strategy. “We continue to introduce new and innovative technologies and look forward to launching several digital asset services for clients on both issuance and investment sides soon,” he said.

Such deals, of which there have been only a handful of recent, come amid shattered investor confidence in the cryptocurrency market, which saw a price slump last year and a series of high-profile crashes, such as the collapse of leading crypto exchange FTX. At the same time, a recent study showed that the Swiss crypto valley, centered on Zug, is weathering the storm relatively well.

Do you expect other large financial investments in crypto companies in the near future? Tell us in the comments section below.

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Credit : news.bitcoin.com

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