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

Taurus, a digital asset infrastructure provider for financial institutions in Europe, has raised $65 million in a Series B capital raise led by Credit Suisse. The funding round also saw the participation of several other institutional investors, including Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, and Investis.

According to the advertisementTaurus will use the funds raised to bolster its growth strategy in three main areas, including; recruiting top engineering talent to further develop its platform, expanding its sales and customer success organization to enhance its infrastructure solutions with new offices in Europe, the United Arab Emirates and later in the Americas and Southeast Asia and, lastly, maintaining the most rigorous security, risk and compliance requirements in all product lines, processes and organizations.

Taurus has established partnerships with more than 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 that he sees enormous potential for the digital asset industry to achieve a value of more than USD 10 trillion through the digitization of private assets. The company has already played a role in tokenizing 15 deals with a variety of issuers, including banks, asset managers, small and medium-sized enterprises (SMEs), and startups based in Switzerland and the European Union. Additionally, Taurus was recently chosen by a publicly traded insurance company to tokenize real assets.

Related: The history and evolution of the fintech industry

Despite being in a bear market, digital asset companies continue to raise capital to develop and innovate within the ecosystem.

On Jan. 24, Cointelegraph reported that the blockchain development platform QuickNode closed a financing of 60 million dollars round as part of a global expansion aimed at bringing more users and developers to Web3 applications. The Series B raise, which valued QuickNode at $800 million, was led by venture capital firm 10T Holdings, with participation from Tiger Global, Seven Seven Six and QED.