Sunday, 05 July 2020

Taurus Group raises over €10 million to expand blockchain infrastructure for digital assets

Swiss fintech startup Taurus Group has raised over €10 million in funding, led by a strategic investment from Arab Bank with participation from Foundation Tezos and other investors. The company’s co-founders, who have backgrounds in banking, asset management, and cybersecurity, remain majority shareholders.

Among other financial services, the Geneva-based startup provides an enterprise-level digital asset exchange for financial institutions. Built on blockchain, the SaaS product is an end-to-end market infrastructure for the issuance, custody, and transfer of digital assets. Clients so far include European investment banks, private and commercial banks, crypto banks, technology companies and exchanges.

“The financial industry of tomorrow will leverage blockchain technology both via traditional asset tokenization and digital assets,” claims Serge Robin, CEO of Arab Bank Switzerland. He added that he believes Taurus is contributing to “a much needed evolution of our industry.”

As for what the fintech startup will do with the new investment, co-founder Sebastien Dessimoz said: “We are looking forward to scaling up our product and engineering teams and to opening new markets. Taurus is already well established in Switzerland and we have seen a growing demand from other European countries, including France, the United Kingdom and the DACH region.”


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