Digital Asset Supplier Raises $65M In Sequence B Led By Credit Score Suisse

Taurus, a digital asset infrastructure supplier for monetary establishments in Europe, has raised $65 million in a Sequence B capital elevate 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 announcement, the funds raised will probably be utilized by Taurus to bolster its development technique in three main areas, which embrace; 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 mentioned it sees huge potential for the digital asset business to achieve a price of greater than USD 10 trillion by digitizing personal belongings. The corporate has already performed a task in tokenizing 15 offers with a variety of issuers, together with banks, asset managers, small and medium-sized enterprises (SMEs), 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.

Regardless of being in a bear market, digital asset corporations proceed to lift capital to develop and innovate inside the ecosystem.

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