Credit Suisse’s Digital Asset Plans Get a Boost with Taurus Partnership
Credit Suisse is the main investor in a Series B investment round for Taurus, a fintech company located in Geneva, therefore strengthening an established relationship. Credit Suisse stated Tuesday that it has engaged in a strategic agreement with Taurus, a digital asset backbone provider located in Geneva, to advance its ambitions to grow into digital assets.
Credit Suisse will participate as the main investor in a Series B investment phase for Taurus, deepening the cooperation between the companies, which has previously existed.
The Block reports that $65 million was secured, with Deutsche Bank, Pictet, and Lebanon’s Cedar Mundi Ventures among the latest investors. Previous investors Arab Bank Switzerland and Swiss real estate company Investis also participated in the latest funding round.
Lamine Brahimi, co-founder and managing partner of Taurus, stated, «We are thrilled to have such top-notch stakeholders as Credit Suisse and to use their knowledge to further create one of the sector’s largest platforms, encompassing any sort of digital asset, well beyond cryptocurrencies.
After the fresh capital was raised, Brahimi, together with co-founders Sebastien Dessimoz, Oren-Olivier Puder, and Jean-Philippe Aumasson, remain the major stockholders. The chief executive officer of Credit Suisse Switzerland, André Helfenstein, said, «The strategic relationship with Taurus is a pillar of the Swiss Bank division’s digital assets approach with the objective of transforming into a top Swiss bank in this space.»W
With this cooperation, Credit Suisse intends to build the Swiss digital asset market in order to serve to consumers with an inclination for digital assets transcending conventional banking solutions.