Capital markets News

Credit Suisse, Deutsche Bank in Taurus digital assets $65m funding

taurus digital assets tokenization

Credit Suisse is leading the $65m Series B funding round for Switzerland’s Taurus, which provides digital asset infrastructure for financial institutions. Other new institutional investors include Deutsche Bank, Pictet Group, and Cendar Mundi Ventures, alongside existing investors Arab Bank Switzerland and Investis.

The Taurus platform supports cryptocurrencies, tokenized securities and digital currencies, providing custody, asset tokenization, and a FINMA-regulated marketplace for tokenized securities, TD-X. Existing institutional clients include Arab Bank Switzerland, CACEIS, Credit Suisse, Deutsche Bank, Pictet, Swissquote and Vontobel.

“The strategic partnership with Taurus is a cornerstone of the Swiss Bank division’s digital assets strategy with the ambition to become the leading Swiss bank in that space,” said André Helfenstein, CEO, Credit Suisse (Switzerland). “We 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.”

Deutsche Bank said it plans to integrate the Taurus solution within its own IT environment for digital asset custody.

Credit Suisse has been working with the startup since at least 2021, when the Taurus platform was used to tokenize stock of the Alaïa sports resort on the public Ethereum blockchain, with Credit Suisse acting as depositary. Late last year, Credit Suisse, Pictet and Vontobel tokenized securities on the public Ethereum test network using Taurus technology.

And Swiss private bank Cité Gestion tokenized its own shares at the beginning of this year.

Taurus says it views the digitization and tokenization of private assets as the next trillion dollar opportunity.