In February 2023, Deutsche Bank was among a small number of companies to invest in a $65 million Series B fundraising round for Taurus. The company offers institutional-grade infrastructure for the issuance, custody and trading of cryptocurrencies, tokenized assets, non-fungible tokens (NFTs) and other digital assets.
According to Taurus co-founder Lamine Brahimiaurus, the partnership went through an “extensive and very detailed” due diligence process before opting to use the German bank’s infrastructure services:
“It started in late 2021 and ended around 2022. We closed the deal a few quarters ago.”
Brahimiaurus confirmed that the agreement is global in scope and Taurus will provide custody and tokenization technology in accordance with local regulatory requirements.
Announcing the partnership, Deutsche Bank’s head of global securities services, Paul Maley, said that the cryptocurrency industry is growing. Assets expected to reach trillions of dollars and this will likely become a priority for investors and institutions.
The Series B round announcement also made clear Taurus’ goal of serving “tier 1” banks in Europe. Brahimiaurus also told Cointelegraph: The platform serves approximately 30 banksmost operations “go beyond cryptocurrencies” Tokenization of equity, debt and other products.
Deutsche Bank is preparing to offer digital asset storage options to its customers, thanks to the partnership with cryptocurrency infrastructure platform Taurus.
Translation by Walter Rizzo