📰 Yello Paradisers! 📰
Big news from the financial world! Deutsche Bank, Germany’s largest bank, has joined forces with Swiss fintech Taurus to offer digital asset custody and tokenization services. Let’s get into the details!
📰 The Partnership
Deutsche Bank and Taurus SA have entered a global partnership to provide digital asset custody and tokenization services. The bank, which manages over €1.3 trillion ($1.4 trillion) in assets, will integrate Taurus’ technology to manage cryptocurrencies, tokenized assets, and digital currencies.
📰 Why Now?
According to Deutsche Bank, the digital asset market has enormous growth potential, and traditional financial companies need to adapt. “As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and corporations alike,” said Paul Maley, Deutsche Bank Global Head of Securities Services.
📰 About Taurus
Founded in 2018, Taurus provides infrastructure for over 25 institutional clients to issue, custody, and trade digital assets. They also operate a marketplace for private assets and tokenized securities.
📰 Previous Engagements
This isn’t Deutsche Bank’s first dance with Taurus. The bank participated in Taurus’ $65 million Series B funding round earlier this year and has applied for a digital asset license with Germany’s financial regulator, BaFin.
📰 Future Plans
Taurus plans to expand its operations, opening offices in Paris, Dubai, Southeast Asia, and the Americas. They also aim to increase their staff from 60 to 100 this year.
📰 Final Thoughts
This partnership marks a significant step in the adoption of digital assets by traditional financial institutions. It’s a win-win for both Deutsche Bank and Taurus and could be a game-changer in the digital asset space.
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