Taurus and Deutsche Bank Partner for Digital Asset Custody and Tokenization Services
Taurus, a Swiss fintech company specializing in enterprise-grade crypto services, has entered into an agreement with Deutsche Bank to establish digital asset custody. In addition to crypto custody, Deutsche Bank will utilize Taurus’ infrastructure to offer tokenization services to its customers. Lamine Brahimi, managing partner and co-founder of Taurus, expressed excitement about supporting the bank in launching digital assets and DLT-based products.
Paul Maley, Global Head of Securities for Deutsche Bank, shared his belief that the tokenized economy will continue to develop and expects traditional assets and cash payments to eventually transition onto blockchain networks. He emphasized that custodians must adapt to support their clients as the digital asset space is projected to encompass trillions of dollars.
“Institutional Interest is Building”
The partnership between Taurus and Deutsche Bank indicates that institutional interest in cryptocurrencies is growing, despite the current subdued market sentiment. Brahimi sees Deutsche Bank’s entry into the space as crucial for advancing digital asset adoption and countering the argument that there is no interest left from institutions. He also believes that it will improve trust in crypto markets given Deutsche Bank’s status as a major traditional financial institution.
Maley echoed Brahimi’s sentiments, noting that high-profile incidents have increased customer demand for regulated players like Deutsche Bank to enter the crypto space.
About Taurus and Deutsche Bank
Taurus operates globally, serving a wide range of financial institutions including systemic banks, online banks, and crypto banks. The company recently raised $65 million in a Series B round led by Credit Suisse and Deutsche Bank. It has also integrated with Polygon to allow banks it works with to issue, book, and service tokenized assets on the proof-of-stake network.
Deutsche Bank, with $1.3 trillion in assets under management, has applied for a digital custody license in Germany and has been developing a crypto asset custody platform since 2020. The partnership between Taurus and Deutsche Bank is already underway.
Hot Take: Expanding Institutional Presence in the Crypto Space
The collaboration between Taurus and Deutsche Bank highlights the growing interest of institutional players in cryptocurrencies. Despite recent market setbacks, institutions like Deutsche Bank are recognizing the potential of digital assets and are actively seeking opportunities to enter the space. This move not only signifies a vote of confidence in crypto markets but also paves the way for wider adoption and regulatory acceptance. As more traditional financial institutions join forces with crypto-focused companies, we can expect to see greater institutional involvement and increased trust in the industry.
By
By
By
By