Deutsche Bank Enters Digital Assets Space with Taurus Agreement
Posted by Colin Lambert. Last updated: September 15, 2023
Deutsche Bank has signed a global partnership agreement with digital assets technology provider Taurus to deploy the latter’s technology to establish a digital asset custody and tokenisation service
Earlier this year, the bank participated in a $65 million Series B funding round for Taurus, it first announced plans for crypto custody in late 2020.
“This partnership is the result of a thorough and detailed selection and due diligence process where Taurus was able to demonstrate the quality and breadth of its products and technology,” says Taurus co-founder Lamine Brahimi. “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 centres.”
Paul Maley, global head of securities services at Deutsche Bank, adds, “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. As such, custodians must start adapting to support their clients.”