Swiss investment bank Credit Suisse invests in the world of cryptocurrencies.
Credit Suisse is the largest contributor to Taurus’ $65 million in funding.
Credit Suisse economic situation
Without worrying about the macroeconomic conditions that have plagued many companies over the past year, let’s take a look at the relevant industry situation.
In particular, both the cryptocurrency and banking segments came out of a difficult year and a half.
The Last Two Years of Transalpine banking institution The balance sheet is mixed (although more negative).
Credit Suisse has taken several steps to resolve the issue.
One thing that was done to improve the numbers was a major spending overhaul, but it wasn’t enough.
Another step for financial institutions to take is to gradually invest in the cryptocurrency sector.
The first results of the path taken were seen in the latest quarterly report showing that 30% of the bank’s total revenue comes from crypto itself.
With the latest roping, the company climbs into the Taurus capital, increasing its exposure in the digital currency sector.
Investing in Taurus
Swiss banking companies have participated in fundraising activities totaling $65 million.
Several financial institutions were involved in the deal, including Deutsche Bank, Pictet Group, Swiss Arab Bank and real estate group Invetis.
Taurus is a digital asset infrastructure dealer with strong growth this year and clear investment plans.
The fact that the day the banking sector is investing in cryptocurrencies is not a great day for cryptocurrencies underscores the importance of this sector.
Taurus SA has raised $65 million in class B funding, of which Credit Suisse is the largest contributor.
Taurus plans to continue devoting resources to infrastructure expansion and personnel.
We also plan to build an operational network with representative offices and development offices in each country.
The regions the company has chosen for growth include Europe, the United Arab Emirates, the Americas and Southeast Asia.
In addition to research and infrastructure investments, security is also a focus of Taurus.
The company is licensed by FINMA (Swiss Financial Market Supervisory Authority) in eight countries around the world.
The company is still a “family business” in the sense that the co-founders own the majority of the shares.
Ramin Brahimione of the four co-founders commented:
“Raising $65 million in the current market environment speaks to the quality of Taurus people and products. We are proud to further develop one of the leading platforms, one of the most asset rich in the industry, covering all types of digital assets well beyond cryptocurrencies.”
in the meantime, Andre Helfensteinthe CEO of a Swiss bank, emphasized the cooperation with Taurus, stating:
“We will continue to adopt new and innovative technologies and will soon launch several digital asset services for our clients, both from an issuance and investment perspective.”