{"id":20706,"date":"2023-02-16T01:57:56","date_gmt":"2023-02-16T09:57:56","guid":{"rendered":"https:\/\/coinnetworknews.com\/swiss-crypto-company-taurus-raises-65-million-from-credit-suisse-other-banks-finance-bitcoin-news\/"},"modified":"2023-02-16T01:57:56","modified_gmt":"2023-02-16T09:57:56","slug":"swiss-crypto-company-taurus-raises-65-million-from-credit-suisse-other-banks-finance-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/swiss-crypto-company-taurus-raises-65-million-from-credit-suisse-other-banks-finance-bitcoin-news\/","title":{"rendered":"Swiss Crypto Company Taurus Raises $65 Million From Credit Suisse, Other Banks \u2013 Finance Bitcoin News"},"content":{"rendered":"
\n
\n<\/header>\n
\n\"Swiss\n<\/div>\n

Digital asset infrastructure provider Taurus has secured millions of U.S. dollars in investment from major banking institutions. The successful funding round comes in the aftermath of negative developments in the crypto space, indicating that large players from traditional finance remain engaged with the market despite its woes.<\/strong><\/p>\n

Credit Suisse, Deutsche Bank Invest in Digital Asset Firm Taurus Amid Ongoing Crypto Winter<\/h2>\n

Swiss crypto company Taurus SA has raised $65 million in a Series B funding round led by the banking giant Credit Suisse. Three other major financial institutions \u2014 Deutsche Bank, Pictet Group, Arab Bank Switzerland \u2014 and the real-estate group Investis have also taken part.<\/p>\n

Taurus, a leading digital asset infrastructure provider for financial institutions in Europe, said it will continue to invest in the further development of its platform offering services related to cryptocurrencies, other digital assets and tokenized securities, including by hiring top engineering talent.<\/p>\n

The Geneva-based company also revealed it intends to accelerate its technology sales expansion by opening new offices in Europe and the United Arab Emirates as well as North and South America and South-East Asia a little later. The goal is to get closer to its clients around the world.<\/p>\n

Another priority highlighted by the crypto firm is to maintain stringent security while meeting risk and compliance requirements. Taurus, which holds a license from Switzerland\u2019s Financial Market Supervisory Authority (FINMA<\/a>), is currently operating in eight countries, Bloomberg noted in a report.<\/p>\n

The funding transaction has been approved by the watchdog, the company emphasized. It also said that its four co-founders, Lamine Brahimi, S\u00e9bastien Dessimoz, Oren-Olivier Puder, and Dr. Jean-Philippe Aumasson, are still the largest shareholders and remain at its helm. Brahimi commented:<\/p>\n

\n

Raising $65 million in the current market environment tells a lot about the quality of Taurus\u2019 people and products.<\/p>\n<\/blockquote>\n

\u201cWe 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,\u201d the managing partner added.<\/p>\n

CEO of Credit Suisse Andr\u00e9 Helfenstein insisted the partnership with Taurus is a cornerstone in the digital assets strategy of the bank\u2019s Swiss division. \u201cWe 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,\u201d he elaborated.<\/p>\n

Deals like that, only a few these days, come amid shaken investor confidence in the crypto market, which saw a slump in prices last year and a series of high-profile collapses, such as that of leading crypto exchange FTX. At the same time, a recent study showed<\/a> that the Zug-centered Swiss Crypto Valley is weathering the storm relatively well.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
collapse<\/a>, credit suisse<\/a>, Crypto<\/a>, Crypto Winter<\/a>, Cryptocurrencies<\/a>, Cryptocurrency<\/a>, Deutsche Bank<\/a>, Digital Currencies<\/a>, finma<\/a>, ftx<\/a>, fund raising<\/a>, funding round<\/a>, Funds<\/a>, investment<\/a>, Investments<\/a>, market slump<\/a>, swiss<\/a>, Switzerland<\/a>, Taurus<\/a><\/div>\n<\/div>\n

Do you expect to see other large financial investments in crypto companies in the near future? Tell us in the comments section below. <\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Michael Derrer Fuchs \/ Shutterstock.com<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n