Benzinga - Digital asset infrastructure provider Taurus SA on Thursday announced a $65 million Series B capital raise from strategic investors, including banking giants Credit Suisse Group AG (NYSE: CS) and Deutsche Bank AG (NYSE: DB).
Other institutional investors include Pictet Group and Cedar Mundi Ventures, as well as Series A investors, Arab Bank Switzerland and Investis, a stock-listed real-estate group.
The company stated the transaction was approved by the Swiss Financial Market Supervisory Authority (FINMA).
The funds will be used to support Taurus' growth strategy across three main priorities: hiring top engineering talent to further develop its platform; expanding its sales and customer success organization with new offices in Europe, UAE, North America, South America and Southeast Asia; and maintaining stringent security, risk and compliance requirements across product lines, processes and organizations.
"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 any type of digital assets, way beyond cryptocurrencies," said Lamine Brahimi, co-founder and managing partner of Taurus.
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Credit Suisse (Switzerland) CEO André Helfenstein stated, "The strategic partnership with Taurus is a cornerstone of the Swiss Bank division's digital assets strategy with the ambition to become the leading Swiss bank in that space. We continue to embrace new and innovative technologies and expect to soon launch several digital asset services for clients both on the issuing and the investment side."
Sabih Behzad, head of digital assets and currencies transformation at Deutsche Bank, added, "We will integrate Taurus' technology into our own IT environment. This will form a key part of our digital asset custody platform and will make it easier for us to develop and roll out our digital asset custody offering. Through this investment, Deutsche Bank is delighted to partner on the development of the market for digital assets."
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