Taurus, a digital asset infrastructure supplier for monetary establishments in Europe, has raised $65 million in a Sequence B capital increase led by Credit score Suisse. The funding spherical additionally noticed participation from a number of different institutional traders, together with Deutsche Financial institution, Pictet Group, Cedar Mundi Ventures, Arab Financial institution Switzerland, and Investis.
In keeping with the Feb. 14 announcement, the funds raised will probably be utilized by Taurus to bolster its progress technique in three main areas: recruiting high engineering expertise to proceed growing its platform; increasing its gross sales and buyer success group to boost its infrastructure options with new workplaces in Europe, the UAE, and later within the Americas and Southeast Asia; and lastly, sustaining essentially the most rigorous safety, threat and compliance necessities throughout product traces, 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 resembling Arab Financial institution Switzerland, CACEIS, Credit score Suisse, Deutsche Financial institution, Pictet, Swissquote and Vontobel.
Taurus stated it sees monumental potential for the digital asset trade to succeed in a price of greater than $10 trillion by digitizing personal property. 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 lately chosen by a publicly-traded insurance coverage firm to tokenize actual property.
Associated: The historical past and evolution of the fintech trade
Regardless of cryptobeing in a bear market, digital asset firms proceed to boost capital to develop and innovate inside 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 supposed to onboard extra customers and builders to Web3 functions. The Sequence B increase, which valued QuickNode at $800 million, was led by enterprise capital agency 10T Holdings, with participation from Tiger World, Seven Seven Six and QED.
