Deutsche Bank partners with Taurus to enter digital asset custody and tokenization services

Germany's largest investment bank, Deutsche Bank AG, has announced a partnership with Swiss fintech company Taurus to develop digital asset custody and tokenization services.

Deutsche Bank Applies for Digital Assets License, Targeting Trillion-Dollar Digital Assets

Deutsche Bank has signed a global partnership agreement with the Swiss crypto infrastructure company Taurus SA to provide digital asset custody and tokenization services for its clients. Paul Maley, Global Head of Securities Services at Deutsche Bank, stated:

As the digital assets space is expected to include trillions of dollars in assets, it is inevitably becoming a priority for both investors and businesses. Hence, custodians must start adapting to support their clients.

According to statistics, Deutsche Bank manages $1.4 trillion in assets, making it the ninth-largest bank in Europe by total assets and the largest investment bank in Germany.

Deutsche Bank hinted at launching digital asset custody services at the end of 2020 and applied for a license to operate digital asset custody services such as cryptocurrency with regulatory authorities in June of this year.

Taurus Focuses on Financial Services Infrastructure

In February of this year, Deutsche Bank participated in Taurus's $65 million Series B funding round. Reports indicate that this funding will be used for Taurus's expansion plans, with the company aiming to open offices in Europe, the UAE, Southeast Asia, and the Americas.

Founded in 2018, Taurus utilizes distributed ledger technology and blockchain to build financial services infrastructure. It currently provides enterprise-grade infrastructure to over 25 institutional clients for issuing, custody, and trading digital assets, as well as operating in the private asset and tokenized securities markets. Taurus is a securities firm regulated by the Swiss Financial Market Supervisory Authority FINMA.

Their services include:

• Custody: Taurus-PROTECT offers secure storage and transfer of hundreds of digital assets, including support for collateral, decentralized finance (DeFi), tokenized securities, and digital currencies
• Tokenization: Taurus-CAPITAL facilitates the issuance, deployment, and lifecycle management of tokenized assets of any kind, such as equities, debts, structured products, physical assets, and NFTs
• Regulated Market: Trading of tokenized securities on Taurus's T-DX platform, which is a trading facility and not an exchange

In June, Taurus also added support for Polygon, along with Ethereum, Tezos, and Cardano, integrating support for four blockchains.