Taurus, a provider of digital asset infrastructure for financial institutions in Europe, raised $65 million in a Series B capital raise led by Credit Suisse. The funding round also saw the participation of several other institutional investors, including Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland and Investis.
According to announcement, the funds raised will be used by Taurus to further its growth strategy in three main areas, which include; recruit top engineering talent to continue to develop its platform, expand its sales and customer success organization to enhance its infrastructure solutions with new offices in Europe, the United Arab Emirates, and later in the Americas and in Southeast Asia, and finally, maintaining the most rigorous security, risk and compliance requirements for product lines, processes and organizations.
Taurus has established partnerships with more than 25 financial institutions and corporate clients in eight countries and three continents. Taurus clients include financial institutions such as Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote and Vontobel.
Taurus said he sees huge potential for the digital asset industry to reach a value of over $10 trillion by digitizing private assets. The company has already been instrumental in signing 15 deals with various issuers, including banks, asset managers, small and medium-sized enterprises (SMEs) and startups based in Switzerland and the European Union. Additionally, Taurus was recently chosen by a publicly traded insurance company to symbolize real assets.
Related: The history and evolution of the fintech industry
Despite being in a bear market, digital asset companies continue to raise capital to grow and innovate within the ecosystem.
On January 24, Cointelegraph reported that blockchain development platform QuickNode closed a $60 million funding round as part of a global expansion to onboard more users and developers into Web3 applications. The Series B raise, which valued QuickNode at $800 million, was led by venture capital firm 10T Holdings, with participation from Tiger Global, Seven Seven Six and QED.