Deutsche Bank Forms Global Partnership with Taurus for Digital Asset Custody and Tokenization Services
German financial giant Deutsche Bank has recently announced a global partnership with Swiss startup Taurus to offer digital asset custody and tokenization services to its clients. With total assets exceeding $1.4 trillion, Deutsche Bank intends to utilize Taurus’ custody and tokenization technology for managing cryptocurrencies, tokenized assets, and digital currencies.
In a statement, Taurus co-founder Lamine Brahimi expressed satisfaction with the partnership, stating that it was the result of a comprehensive selection and due diligence process. Brahimi highlighted the quality and breadth of Taurus’ products and technology.
“We are pleased to implement this global partnership with Deutsche Bank and look forward to supporting the bank in launching digital assets and DLT-based products and services across several booking centers.”
Deutsche Bank’s collaboration with Taurus follows its participation in Taurus’ $65 million Series B funding round in February. Other participants in the funding round included Credit Suisse, Pictet Group, and Arab Bank Switzerland. The objective of the fundraising is to expand operations across Europe and the United Arab Emirates (UAE) before focusing on the Americas and South-East Asia.
Since late 2020, Deutsche Bank has been actively pursuing the launch of its digital asset custody services. In June, the bank applied with the German financial regulatory authority, the Federal Financial Supervisory Authority (BaFin), to establish its “digital assets and custody business.”
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