Taurus, a digital asset infrastructure supplier for monetary establishments in Europe, has raised $65 million in a Collection B capital increase 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.
Based on the announcement, the funds raised might be utilized by Taurus to bolster its progress technique in three main areas, which embody; recruiting prime engineering expertise to proceed creating its platform, increasing its gross sales and buyer success group to boost its infrastructure options with new places of work 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 nations and three continents. Taurus’s purchasers embody monetary establishments resembling Arab Financial institution Switzerland, CACEIS, Credit score Suisse, Deutsche Financial institution, Pictet, Swissquote, and Vontobel.
Taurus mentioned it sees monumental potential for the digital asset trade to succeed in a worth of greater than USD 10 trillion by digitizing personal property. The corporate has already performed a job in tokenizing 15 offers with a variety of issuers, together with banks, asset managers, small and medium-sized enterprises (SMEs), and startups based mostly in Switzerland and the European Union. Moreover, Taurus was just lately chosen by a publicly-traded insurance coverage firm to tokenize actual property.
Related: The history and evolution of the fintech industry
Regardless of being in a bear market, digital asset corporations 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 world enlargement supposed to onboard extra customers and builders to Web3 functions. The Collection B increase, which valued QuickNode at $800 million, was led by enterprise capital agency 10T Holdings, with participation from Tiger International, Seven Seven Six, and QED.