The partnership signals a surge in institutional interest in digital assets and tokenisation.
Deutsche Bank, Germany’s biggest lender, has signed a partnership agreement with Taurus, a major digital asset technology provider, the companies announced today.
Deutsche Bank will integrate Taurus technology to establish digital asset custody and tokenisation services, according to the announcement. The move reflects a surge in institutional interest in digital assets and tokenisation.
Read more: Banking giant HSBC is working with crypto custody firm Fireblocks
Taurus co-founder Lamine Brahimi said, “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 centers.”
He added, “”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.”
The partnership isn’t Deutsche Bank’s first introduction to Taurus. Earlier this year, the bank participated in Taurus’ $65 million Series B funding round, alongside Credit Suisse, Pictet Group, and Arab Bank Switzerland.
Taurus said that the partnership is a “natural extension” of Deutsche Bank’s recent digital asset initiatives, which include goals like developing a fully integrated custody platform for
institutional clients and their digital assets.
Custody aside, Taurus provides enterprise-grade digital asset infrastructure to issue and trade digital assets, including cryptocurrencies, tokenized assets, NFTs and more.
Paul Maley, Global Head of Securities Services at Deutsche Bank, said, “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.”
He added, “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 tokenization space.”
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