Digital Asset Provider Raises $65M in Series B Led by Credit Suisse

Taurus, a digital asset infrastructure supplier for monetary establishments in Europe, has raised $65 million in a Collection B capital elevate led by Credit score Suisse. The funding spherical additionally noticed participation from a number of different institutional buyers, together with Deutsche Financial institution, Pictet Group, Cedar Mundi Ventures, Arab Financial institution Switzerland, and Investis. 

In response to the Feb. 14 announcement, the funds raised will likely be utilized by Taurus to bolster its development technique in three major areas: recruiting prime engineering expertise to proceed growing its platform; increasing its gross sales and buyer success group to reinforce 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 purchasers throughout eight international locations and three continents. Taurus’s purchasers embrace monetary establishments reminiscent of 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 $10 trillion by digitizing personal belongings. The corporate has already performed a job in tokenizing 15 offers with a spread of issuers, together with banks, asset managers, small and medium-sized enterprises, and startups primarily based in Switzerland and the European Union. Moreover, Taurus was just lately chosen by a publicly-traded insurance coverage firm to tokenize actual belongings.

Associated: The historical past and evolution of the fintech business

Regardless of cryptobeing in a bear market, digital asset firms proceed to lift capital to develop and innovate throughout the ecosystem. 

On Jan 24, Cointelegraph reported that blockchain growth platform QuickNode closed a $60 million funding spherical as a part of a worldwide enlargement meant to onboard extra customers and builders to Web3 functions. The Collection B elevate, which valued QuickNode at $800 million, was led by enterprise capital agency 10T Holdings, with participation from Tiger World, Seven Seven Six and QED.

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