Deutsche Bank using Taurus for global crypto custody services - Invest in Web 3.0 today!
Deutsche Bank taps Taurus for global crypto custody services

Deutsche Bank to Offer Cryptocurrency Custody Services

Deutsche Bank is set to provide its customers with cryptocurrency custody options through a partnership with Taurus, a cryptocurrency infrastructure platform. The German bank participated in a $65 million Series B fundraising round for Taurus in February 2023. Taurus provides enterprise-level infrastructure to issue, manage, custody and trade cryptocurrencies, tokenized assets, nonfungible tokens and other digital assets.

Lamine Brahimi, a co-founder of Taurus, stated that the partnership between the two companies went through a “thorough and very detailed” due diligence process before the bank decided to use its infrastructure services. Deutsche Bank has been exploring the possibility of offering cryptocurrency custody and trading services to its clients for the past three years. In June 2023, the bank applied for a digital asset custody license from Germany’s financial regulator, the Federal Financial Supervisory Authority.

Investing in Web 3.0

Brahimi confirmed that the agreement with Taurus is global in scope, with the company providing custody and tokenization technology in line with local regulatory requirements.

Paul Maley, the head of Deutsche Bank global securities services, announced the partnership and noted that the cryptocurrency space is expected to grow to trillions of dollars in assets and will likely become a priority for investors and institutions.

DWS Group, the asset management arm of Deutsche Bank, had reportedly been in discussions to invest in two different German-based cryptocurrency firms in February 2023 — crypto exchange-traded product provider Deutsche Digital Assets and market maker platform Tradias.

Deutsche Bank Singapore and Memento Blockchain recently completed a proof-of-concept called Project DAMA (Digital Assets Management Access), which allows for the management of digital funds in tokenized securities. This project demonstrates how investors can benefit from web 3.0 technology, which is also known as the decentralized web.

Investing in Web 3.0

In 2018, Taurus, a Swiss company, raised funds for its Series B round from major traditional finance banks such as Credit Suisse, Deutsche Bank, and Arab Bank Switzerland. Its goal was to serve “tier 1” banks in Europe, and it now works with close to 30 banks, providing tokenization services for equity, debt, and other products.

Web 3.0 is the latest version of the internet, often referred to as the “Semantic Web”. It is a major shift in the way the internet works, allowing users to interact with data in new ways. Web 3.0 is different from Web 2.0 in several ways, and it is possible to invest in it.

If you are interested in investing in Web 3.0, there are several options available. You can invest in companies that are developing products or services related to Web 3.0, or you can invest in specific projects that are related to Web 3.0. Additionally, you can invest in cryptocurrencies that are related to Web 3.0.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Categorized in:

Tagged in: