Digital Asset Infrastructure Provider Taurus Raises $65M From Credit Suisse, Deutsche Bank
TL;DR Taurus, a digital asset infrastructure provider, raised $65 million in Series B funding led by Credit Suisse (CS) and Deutsche Bank (DBK). The funds will be used to make new hires and expand into Europe and the UAE. Arab Bank Switzerland and Pictet Group also joined the round. The funding is a sign that capital from major financial institutions is still flowing into the wider digital asset ecosystem.
Taurus, a digital asset infrastructure provider, raised $65 million in Series B funding led by Credit Suisse (CS) with participation from Deutsche Bank (DBK).
The Geneva, Switzerland-based firm plans to use the funds to make new hires and expand across Europe and the United Arab Emirates, according to an announcement on Tuesday. Taurus declined to provide a valuation for the company.
Taurus says it works with more than 25 financial institutions, including Credit Suisse and Deutsche Bank, as well as Arab Bank Switzerland and Pictet Group, who also joined the funding round. Taurus offers custody, tokenization and trading of digital assets, including support for staking, decentralized finance (DeFi).
The funding round is a reminder that capital still finding its way to the digital asset industry from major financial institutions, even after last year's crypto market crash and the collapse of crypto lenders Celsius Network and Voyager Digital as well as crypto exchange FTX. While the core crypto industry may face an uncertain future, firms providing the infrastructure for the broader digital asset ecosystem still seem able to attract substantial investment from mainstream finance.