July 21, 2024
Taurus Teams Up with Deutsche Bank to Advance Digital Asset Services
Latest Cryptocurrency News

Taurus Teams Up with Deutsche Bank to Advance Digital Asset Services

Taurus is expanding its foothold in Europe. Taurus is a provider of cryptographic infrastructure that just teamed up with Deutsche Bank.

Taurus, a company located in Switzerland that provides infrastructure to issue, hold, and trade tokenized assets, NFTs, and cryptocurrency, is launching offices in London and Paris. The company predicts that as the regulatory landscape becomes clearer, more banks in the area will enter the cryptocurrency market.

To better assist institutions that will soon need to adhere to the Markets in Crypto Assets Regulation (MiCA), an expansion has been made. The framework was approved by the European Union Parliament in April, and implementation is scheduled for next year.

The London office will be run by Jürgen Hofbauer, who was formerly Taurus’s worldwide head of strategic alliances. He worked with Bank of America for more than ten years, most of which he spent as the region’s head of sales for Europe, the Middle East, and Africa.

From Paris, Arnaud Fleisher will oversee the expansion of the business. Fleisher has prior experience in sales leadership roles at organizations, including software giant SAP.

Credit Suisse was the lead investor in a $65 million fundraising round for Taurus in February. In that round, Deutsche Bank also participated. Last month, the German megabank partnered with Taurus to develop services for digital asset custody and tokenization.

The Taurus agreement, according to German-based Deutsche Bank, would enable it to first provide corporate and institutional clients with custody of “selected cryptocurrencies and some stablecoins” as well as the option to tokenize conventional financial products.

In addition to Deutsche Bank, Hofbauer informed Blockworks that Taurus’ other European clients include CACEIS, Credit Suisse, Banque Delubac, and Groupe Pernod Ricard.

The company is going to announce new, significant alliances with major institutions in the US and Asia, among other places.

“We follow our clients’ footprint to stay close to them and add local expertise. “We are looking to expand in selected financial centers in the Americas, Middle East, and Asia regions. We will make announcements soon.”  Hofbauer concluded.

Image: Wallpapers.com

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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