Taurus, a digital asset infrastructure provider for European financial institutions, has secured $65 million through a Series B funding conducted by Credit Suisse. The funding round witnessed other investors such as Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, Investis, among others, as reported by Cointelegraph.
According to Cointelegraph, Taurus will use the funds to strengthen three areas: hiring top engineering talent, enhancing sales and infrastructure globally, and development of security procedures. Reportedly, Taurus has created partnerships with around 25 financial institutions and corporate clients in eight countries and three continents. It is believed that Taurus’ clients include financial institutions such as Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote and Vontobel.
On the basis of information by Cointelegraph, Taurus claimed that it can reach a value of over $10 trillion through digitisation of private assets. It is believed that the company has tokenised 15 deals with platforms such as banks, asset managers, small and medium-sized enterprises, and startups based in Switzerland and the European Union.
Moreover, Cointelegraph noted that in recent context, Taurus was selected by a publicly-traded insurance company to tokenise real assets. Experts believe that crypto bear market implications haven’t prevented digital asset companies from raising capital.