Taurus, a supplier of digital asset infrastructure to monetary establishments in Europe, has raised $65 million in a Sequence B fundraising led by Credit score Suisse. A number of different institutional traders additionally participated within the funding spherical, together with Deutsche Financial institution, Pictet Group, Cedar Mundi Ventures, Arab Financial institution Switzerland and Investis.
In keeping with the Notice, Taurus' raised funds will likely be used to strengthen its development technique in three key areas together with; recruiting prime engineering expertise to additional develop its platform, increasing its gross sales and buyer success group to boost its infrastructure options with new places of work in Europe, the United Arab Emirates and later the Americas and Southeast Asia, and eventually sustaining probably the most stringent safety danger and compliance Necessities throughout product traces, processes and organizations.
Taurus has established partnerships with over 25 monetary establishments and company shoppers in eight international locations and three continents. Taurus shoppers embody monetary establishments resembling Arab Financial institution Switzerland, CACEIS, Credit score Suisse, Deutsche Financial institution, Pictet, Swissquote and Vontobel.
Taurus sees large potential for the digital asset trade to succeed in greater than $10 trillion in worth by digitizing personal property. The corporate has already helped tokenize 15 transactions with a variety of issuers, together with banks, asset managers, small and medium-sized enterprises (SMEs) and start-ups primarily based in Switzerland and the European Union. As well as, Taurus was just lately chosen by a listed insurance coverage firm to tokenize actual property.
See additionally: The historical past and growth of the fintech trade
Regardless of being in a bear market, digital asset firms proceed to boost capital to develop and innovate inside the ecosystem.
On Jan. 24, Cointelegraph reported that blockchain growth platform QuickNode has closed a $60 million funding spherical as a part of a worldwide enlargement geared toward bringing extra customers and builders into Web3 purposes. The Sequence B capital 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.