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.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 — Deutsche Bank, Pictet Group, Arab Bank Switzerland — and the real-estate group Investis have also taken part.
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. The funding transaction has been approved by the watchdog, the company emphasized. It also said that its four co-founders, Lamine Brahimi, Sébastien Dessimoz, Oren-Olivier Puder, and Dr. Jean-Philippe Aumasson, are still the largest shareholders and remain at its helm. Brahimi commented:
“We 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,” the managing partner added.
When big entities take notice you know it's important. Web3 initiatives keep growing bigger and garnering more attention. Everyone should be educating themselves on how to best traverse the space. Mass adoption is not a matter of if but when!
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