The collaboration aims to support Deutsche Bank’s digital asset services by integrating Taurus’ technology for digital asset custody and tokenization services, the organizations said in a Thursday (Sept. 14) press release.
Taurus, founded in 2018, offers enterprise-grade digital asset infrastructure for issuing, safeguarding and trading various digital assets, including cryptocurrencies, tokenized assets, non-fungible tokens (NFTs) and digital currencies, according to the release.
The Taurus product portfolio includes Taurus-Protect, a secure storage solution used by more than 25 financial institutions and corporations in Europe, and Taurus-Capital, which allows for the issuance and management of NFTs and tokenized assets on public and private blockchains, the release said.
“We are pleased to implement this global partnership with Deutsche Bank and look forward to supporting the bank in launching digital assets and DLT-based products and services across several booking centers,” Taurus Co-founder Lamine Brahimi said in the release.
The partnership extends Deutsche Bank’s recent initiatives in the digital asset space, according to the release.
Paul Maley, global head of securities services at Deutsche Bank, said in the release that the tie-up with Taurus will enable the bank to meet the evolving needs of its clients.
“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,” he said. “As such, custodians must start adapting to support their clients.”
This partnership between Deutsche Bank and Taurus builds on a previous investment. Earlier this year, Deutsche Bank participated in Taurus’ $65 million Series B funding round with Credit Suisse, Pictet Group and Arab Bank Switzerland.
When announcing the funding round in February, Taurus said it would use the new capital to continue building its digital asset platform and accelerate its international expansion. The company said it will expand sales with new offices in Europe, the United Arab Emirates (UAE), the Americas and Southeast Asia.
For all PYMNTS crypto coverage, subscribe to the daily Crypto Newsletter.