Deutsche Bank has signed a global partnership agreement with Swiss digital asset technology provider Taurus, to provide cryptocurrency custody options to its customers.
Under the collaboration, Deutsche Bank will integrate Taurus’ digital asset technology to offer digital asset custody and tokenisation services.
The partnership follows Deutsche Bank’s participation in Taurus’ $65m Series B funding round earlier this year, alongside Credit Suisse, Pictet Group, and Arab Bank Switzerland.
Deutsche Bank securities services global head Paul Maley: “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.
“This is why we are excited to partner with Taurus, a leading digital asset infrastructure provider with a proven track record and extensive expertise in the crypto and tokenisation space.”
Established in 2018, Taurus offers enterprise digital asset infrastructure to issue, custody, and trade digital assets, such as cryptocurrencies, tokenized assets, NFTs, and digital currencies.
Taurus provides services to a full spectrum of financial institutions, including systemic banks, universal banks, online banks, crypto banks, private banks, and broker-dealers.
It also operates a marketplace for private assets and tokenised securities. The Swiss fintech company said that the partnership is a natural extension to the Deutsche Bank’s digital asset-focused initiatives announced recently.
Taurus co-founder Lamine Brahimi said: “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.
“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.”