Taurus, a digital asset infrastructure provider, raised $65 million in Series B funding led by Credit Suisse (CS) with participation from Deutsche Bank (DBK).
The Geneva, Switzerland-based firm plans to use the funds to make new hires and expand across Europe and the United Arab Emirates, according to an announcement on Tuesday. Taurus declined to provide a valuation for the company.
Taurus says it works with more than 25 financial institutions, including Credit Suisse and Deutsche Bank, as well as Arab Bank Switzerland and Pictet Group, which also joined the funding round. Taurus offers custody, tokenization and trading of digital assets, including support for staking and decentralized finance (DeFi).
The funding round is a reminder that capital is still finding its way to the digital asset industry from major financial institutions, even after last year's crypto market crash and the collapse of crypto lenders Celsius Network and Voyager Digital as well as crypto exchange FTX. While the core crypto industry may face an uncertain future, firms providing the infrastructure for the broader digital asset ecosystem still seem able to attract substantial investment from mainstream finance.
Read more: Crypto Protection Firm Coincover Raises $30M
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.