Deutsche Bank to offer crypto-custody with Taurus

Germany’s largest bank, Deutsche Bankwill rely on crypto infrastructure the swiss Taurus to propose services from tokenization and guard d’digital assets.

The crypto startup Tauruswhich was already working with several financial institutions, announced on Thursday that it had signed a partnership with the giant Deutsche Bank.

According to a press release, Deutsche Bank plans to leverage the technologies developed by the Geneva-based start-up, which raised $65 million earlier this year from the German bank, among others, to offer conservation and tokenization for its institutional customers.

This alliance is the result of a thorough and detailed selection and due diligence process, during which Taurus was able to demonstrate the quality and breadth of its products and technology”, enthused Lamine Brahimi, co-founder of Taurus.

This summer, we learned that Deutsche Bank was seeking a license to offer a custody service for digital assets, including cryptocurrencies such as Bitcoin.

As the digital asset space is expected to encompass billions of dollars of assets, it is bound to be seen as one of the top priorities for investors and businesses alike. As such, custodians need to start adapting to support their clients,” said Paul Maley, Global Head of Securities Services at Deutsche Bank.

On Reutersa spokesman said that thecrypto-trading was not currently part of the bank’s plans.

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Founded in Switzerland in 2018, Taurus has an infrastructure dedicated to the issuance, exchange and storage of digital assets of all kinds. It is compatible with the Ethereum, Tezos, Cardano and, more recently, Polygon networks.

More mega banksincluding Citigroup and BNP Paribas, are also positioning themselves in the crypto-custody.

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