Deutsche Bank taps Taurus for global crypto custody services

The German slope was 1 of a fistful of company’s to put successful a $65 million, bid B fundraising circular for Taurus successful Feb. 2023. The institution offers enterprise-grade infrastructure to issue, negociate custody and commercialized cryptocurrencies, tokenized assets, nonfungible tokens (NFTs) and different integer assets.

According to Taurus co-founder Lamine Brahimiaurus, the concern underwent a "thorough and precise detailed" owed diligence process earlier the German slope decided to usage its infrastructure services:

As Cointelegraph antecedently reported, Deutsche Bank has been brewing plans to connection cryptocurrency custody and trading services to its clients implicit the past 3 years. The slope astir precocious applied for a integer plus custody licence from Germany’s fiscal regulator BaFin successful June 2023, arsenic it continues plans to connection its customers entree to cryptocurrency markets and assets.

Brahimiaurus confirmed that the agreement is planetary successful scope, with Taurus providing custody and tokenization exertion successful enactment with  section regulatory requirements.

Announcing the partnership, Deutsche Bank planetary securities services caput Paul Maley said that cryptocurrency abstraction is expected to turn to trillions of dollars of assets and is apt to go a precedence for investors and institutions.

Meanwhile Deutsche Bank’s plus absorption limb DWS Group had reportedly been successful discussions to put successful 2 antithetic German-based cryptocurrency firms successful Feb. 2023. This included crypto exchange-traded merchandise supplier Deutsche Digital Assets and marketplace shaper level Tradias.

Deutsche Bank Singapore and Memento Blockchain recently completed a proof-of-concept called Project DAMA (Digital Assets Management Access) which allows for the absorption of integer funds successful tokenized securities.

Founded successful Switzerland successful 2018, Taurus’s series B circular was led by Credit Suisse and included the likes of Deutsche Bank alongside Arab Bank Switzerland, indicating large involvement from accepted concern banks.

The announcement of its bid B circular besides intelligibly outlined Taurus’s purpose to service “tier 1” banks successful Europe. Brahimiaurus besides told Cointelegraph that the level serves adjacent to 30 banks, with astir deals going "beyond cryptocurrencies" to see tokenization of equity, indebtedness and different products.

Deutsche Bank is acceptable to connection customers cryptocurrency custody options done a concern with cryptocurrency infrastructure level Taurus.

Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.

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