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

February 14, 2023 - By Cryptonewone

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 participation from several other institutional investors, including Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, and Investis.

According to the announcement, the funds raised will be used by Taurus to bolster its growth strategy in three primary areas, which include; recruiting top engineering talent to continue developing its platform, expanding its sales and customer success organization to enhance its infrastructure solutions with new offices in Europe, the UAE, and later in the Americas and Southeast Asia, and lastly, maintaining the most rigorous security, risk, and compliance requirements across product lines, processes, and organizations.

Taurus has established partnerships with over 25 financial institutions and corporate clients across eight countries and three continents. Taurus’s clients include financial institutions such as Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote, and Vontobel.

Taurus said it sees enormous potential for the digital asset industry to reach a value of more than USD 10 trillion by digitizing private assets. The company has already played a role in tokenizing 15 deals with a range 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.

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 blockchain development platform QuickNode closed a $60 million funding round as part of a global expansion intended to onboard 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.