Credit Suisse friendly to crypto

The Swiss investment bank Credit Suisse is investing in the cryptocurrency world.

In a $65 million fundraiser run by the company Taurus, Credit Suisse is making the largest contribution.

Credit Suisse’s financial situation

Without bothering with the macroeconomic picture that has challenged many companies in the past year, let’s look at the situation of the industries in question.

Both the cryptocurrency and banking segments in particular have come from a difficult year and a half.

The past two years of the transalpine banking institution have seen mixed balance sheets (although leaning more towards the negative).

Credit Suisse has put some measures in place to get it out of trouble.

One of the things that was done to improve the numbers was a massive spending review, but that alone would not be enough.

The second step that the financial institution is taking is to gradually invest in the crypto sector.

The first results of the path taken were seen with the latest quarterly report which saw 30% of the bank’s total revenue coming from crypto itself.

With the latest move, the company climbs into the Taurus capital and increases its exposure in the digital currency sector.

The investment in Taurus

Swiss banking company participates in a fundraising campaign with a total value of 65 million dollars.

The deal involved several financial institutions, including Deutsche Bank, Pictet Group, Arab Bank Switzerland and property group Investis.

Taurus is a digital asset infrastructure retailer that has grown a lot this year and has a well-defined investment plan.

The fact that the banking sector is investing in crypto in less than big days for crypto is a clear sign of the importance of the sector.

Taurus SA is raising $65 million from Class B fundraising, of which Credit Suisse is the largest contributor.

Taurus plans to continue to spend resources on expanding infrastructure and personnel.

It is also planned to build an operational network with representative and development offices in various countries.

Areas where the company has chosen to grow include Europe, the United Arab Emirates, America and Southeast Asia.

Besides investments in research and infrastructure, safety is also a focus for Taurus.

The company is licensed by FINMA (Swiss Financial Market Supervisory Authority) in eight countries around the world.

The company is still of the “family-run” type, in the sense that the co-founders still have the majority of the shares.

Lamine Brahimicommented one of the four co-founders:

“Raising $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 experience to further develop one of the leading platforms. the richest assets in the industry, covering all types of digital assets, far beyond cryptocurrencies.”

Meanwhile, André HelfensteinCEO of the Swiss bank, highlighted the partnership with Taurus by stating:

“We continue to embrace new and innovative technologies and plan to launch more digital asset services for clients soon from both an issuance and investment perspective.”