Taurus, a company based in Switzerland that offers digital asset infrastructure for banking firms, received $65 million as part of a Series B fundraising round, which Credit Suisse is heading. Apart from the already established Arab Bank Switzerland and Investis, additional institutional investors include Deutsche Bank, Pictet Group, and Cendar Mundi Ventures.
This new cooperation between Credit Suisse and Taurus is an expansion of an ongoing engagement between the two companies. The partnership will concentrate on developing use cases together, as well as the implementation of distributed ledger technology and smart contracts.
The Chief Executive Officer of Credit Suisse, André Helfenstein, made a statement on the subject in which he said that the strategic alliance with Taurus is a cornerstone of their division’s digital assets strategy with the goal of being the premier Swiss bank in that field.
He added that:
“We continue to embrace new and innovative technologies, and expect to soon launch several digital asset services for clients on both the issuing and the investment side.”
Credit Suisse sees the relationship as a crucial step toward expanding its involvement in the evolving digital assets ecosystem, acquiring technical expertise, and co-developing and exploiting market possibilities coming from the strategic deployment of blockchain technology across enterprises.
Credit Suisse deems Taurus an excellent partner for this venture because of the company’s innovative end-to-end solution, flexible technological stack, and the enabling Swiss regulatory and legal framework.
Taurus’s co-founder and managing partner, Lamine Brahimi, has said that the firm is thrilled to have high-profile investors like Credit Suisse on board and that they want to use the firm’s knowledge to build up one of the industry’s most robust platforms for trading digital assets of all kinds.
