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Taurus, a Swiss-based digital asset infrastructure company, announced it has closed a $65m Series B funding round led by Credit Suisse, with participation from Deutsche Bank, Pictet Group and others.
Taurus offers digital asset services, such as custody and tokenization, to European financial institutions. Currently, it has over 25 institutional clients. Sebastien Dessimoz, co-founder of the company, said that Taurus has a market share of 50% to 60% in the Swiss market. With the new funding, Taurus plans to open new offices in Paris and Dubai, and to expand its business to Southeast Asia and the Americas. In addition, the company plans to expand its team from the current 60 people to around 100 people this year.
Credit Suisse is the second largest bank in Switzerland. According to The Block's data, this is the fourth time that Credit Suisse invests in a crypto or digital assets company. A spokesperson from the bank said Credit Suisse has been a client of Taurus' for around two years. "We see great potential in the digital asset space, that means tokenization of regulated securities," the spokesperson said. "Furthermore, we believe that by using the DLT (distributed ledger technology), new features can be brought to financial products which in the past were not possible or very expensive."
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