Taurus SA, a Swiss entity that provides an infrastructure to issue, custody, and trade cryptocurrencies, recently raised $65 million to improve its platform and expand internationally. Credit Suisse, Deutsche Bank, Pictet Group, Arab Bank Switzerland, Investis Holding SA, and Cedar Mundi Ventures were among the major monetary institutions that led the financing round, which was approved by the Swiss Financial Market Supervisory Authority (FINMA). Taurus will use the funds to hire more engineers, offer additional security to clients, and open offices in Europe and the United Arab Emirates (UAE).
Lamine Brahimi, Co-Founder and Managing Partner of Taurus, expressed pride in the successful fundraising during the current economic uncertainty, and said the funds will help further develop the platform and cover any type of digital assets. André Helfenstein, CEO of Credit Suisse (Switzerland), said the strategic partnership with Taurus reflects his firm’s plans to become a leading Swiss bank in the crypto space.
Deutsche Bank also vowed to integrate Taurus’ technology into its IT environment, and its asset management arm – DWS Group – recently revealed intentions to invest in two German cryptocurrency organizations. Some of Deutsche Bank’s executives have been quite bullish on bitcoin and Ethereum, with Macro Strategist Marion Laboure describing them as the “digital gold” and “digital silver” of this century, respectively.