all about cryptop referances
The infrastructure provider Taurus has secured millions of US dollars in investment from major banking institutions. The successful funding round comes in the wake of negative developments in the crypto market, indicating that major players from traditional finance remain engaged in the market despite its problems.
Swiss crypto company Taurus SA has raised $65 million in a Series B funding round led by banking giant Credit Suisse. Three other major financial institutions – Deutsche Bank, Pictet Group, Arab Bank Switzerland – and property group Investis have also participated.
Taurus, a leading provider of digital asset infrastructure for financial institutions in Europe, said it will continue to invest in the further development of its platform that offers services related to cryptocurrencies, other digital assets and tokenized securities, including by hiring top engineering talent.
The Geneva-based company also revealed that it intends to accelerate the expansion of technology sales by opening new offices in Europe and the United Arab Emirates as well as North and South America and Southeast Asia a little later. The aim is to get closer to its customers all over the world.
Another priority highlighted by the crypto firm is maintaining strict security while meeting risk and compliance requirements. Taurus, which holds a license from Switzerland’s Financial Market Supervisory Authority (FINMA), currently operates in eight countries, Bloomberg noted in a report.
The financing transaction has been approved by the watchdog, the company stressed. It also said the four co-founders, Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder and Dr Jean-Philippe Aumasson, remain the largest shareholders and remain at the helm. Brahimi commented:
To raise $65 million in the current market environment speaks volumes for the quality of Taurus’ people and products.
“We are proud to welcome such high-profile investors and benefit from their expertise to further develop one of the richest platforms in the industry, covering all types of digital assets, well beyond cryptocurrencies,” the managing partner added.
Credit Suisse CEO André Helfenstein insisted that the partnership with Taurus is a cornerstone of the digital assets strategy of the bank’s Swiss division. “We continue to embrace new and innovative technologies and expect to soon launch more digital asset services for clients on both the issuance and investment side,” he elaborated.
Such deals, only a few these days, come amid shaken investor confidence in the crypto market, which saw a drop in prices last year and a series of high-profile collapses, such as that of leading crypto exchange FTX. At the same time, a recent study showed that the Zug-centered Swiss crypto valley can withstand the storm relatively well.
Do you expect to see other large financial investments in crypto companies in the near future? Tell us in the comments section below.
Image credit: Shutterstock, Pixabay, Wiki Commons, Michael Derrer Fuchs / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly responsible for damages or losses caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
