Europe Fintech

Arab Bank Switzerland leads a CHF 8-digit Series A in digital assets infrastructure Taurus Group

● Swiss leader in digital asset infrastructure for the financial industry, Taurus Group, closed a round with Swiss private bank Arab Bank Switzerland and other renowned strategic investors.

● Our vision is that the traditional financial industry and the digital asset world will be converging thanks to blockchain technology.

● The investment will enable Taurus to scale up its operations and expand its services to new financial centres, starting with London, Paris and Frankfurt.

Arab Bank (Switzerland) Ltd. is pleased to announce its strategic investment in the Series A of Taurus Group.​The bank has been leading the blockchain and digital asset offering in Switzerland. It launched a full suite of digital asset services, providing advisory, custody and brokerage services for Bitcoin and Ethereum last September, and plans to add Ripple to its offering next month.

The CHF 8-digit series A was led by Arab Bank Switzerland Ltd., with additional funding from renowned strategic investors as well as existing, private investors. The co-founders remain majority shareholders.

Arab Bank Switzerland has a longstanding tradition of innovation, both in terms of business models and financial technology adapting to industry evolutions. The bank was one of the first private banks to successfully launch commodity trading operations and to offer its clients a competitive FX (foreign exchange) platform. It was also one of the first banks in Switzerland to enter the digital asset space.

In an increasingly digital world, Arab Bank Switzerland’s first ever investment in a financial technology company is consistent with its convictions and reinforced by a shared vision with Taurus, namely that the worlds of traditional assets and digital assets are converging. Although the digital asset industry is still nascent, both companies see tremendous potential and efficiency gains for issuers, advisors, investors and financial institutions in digitalizing the financial industry by leveraging blockchain and smart contracts technologies.
Taurus Group is a Swiss fintech launched in 2018 by ​executives with a background in banking, asset management, regulatory, and cybersecurity​. It is aiming to build one of the most robust and regulatory compliant digital asset infrastructures in the world. Its infrastructure is end-to-end and covers issuance, custody, and transfer of digital assets and its client base is composed of institutional players such as leading investment banks, private banks, commercial banks, crypto banks, technology companies and exchanges in Europe.
Serge Robin, CEO of Arab Bank (Switzerland)​, explains: “The financial industry of tomorrow will leverage the blockchain technology both via traditional asset tokenization and digital assets. We are excited to invest in the leading Swiss fintech offering an outstanding digital asset infrastructure, thus contributing to a much needed evolution of our industry.”
Sebastien Dessimoz, co-Founder of Taurus Group​, adds: “We are looking forward to scaling up our product and engineering teams and to opening new markets. Taurus is already well established in Switzerland and we have seen a growing demand from other European countries, including France, the United Kingdom and the DACH region.”

A propos de Arab Bank Switzerland

Arab Bank (Switzerland) Ltd. was launched in Zug in 1962 to create a bridge between the Middle East and the Western World. The bank has become a trusted partner for high net worth individuals, including business leaders and family entrepreneurs in the MENA region for more than 50 years. It is the sister company of Arab Bank Plc, one of the biggest banks in the Middle East.
Pour plus d’informations, veuillez visiter: ​www.arabbank.ch

A propos de Taurus Group

Taurus Group SA was founded in April 2018 in Geneva, specialising in digital assets and blockchain. It was founded by senior executives with a background in banking, asset management, regulatory, and cybersecurity. Taurus offers enterprise-grade market infrastructure solutions for digital assets as well as other financial services to institutional clients.
Pour plus d’informations, veuillez visiter: ​www.taurusgroup.ch

Disclaimer The information in this document does not constitute legal or investment advice and is not intended as a recommendation for buying or selling cryptocurrencies. Arab Bank (Switzerland) Ltd. and all other companies mentioned in this document will not be responsible for the consequences of reliance upon any opinion or statement contained herein or for any omission. You must not rely on this document or any information therein as an alternative to seeking legal advice from your lawyer and/or other professional legal service providers.

Author

  • Editorial Director of the The Fintech Times

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