Deutsche Bank Joins Crypto Wave: Partners With Taurus For Digital Asset Custody
Portfolio Pulse from Khyathi Dalal
Deutsche Bank (NYSE:DB) has announced a partnership with Swiss startup Taurus to offer global crypto custody services. The bank will use Taurus' technology to manage cryptocurrencies, tokenized assets, and digital assets. This follows Deutsche Bank's investment in Taurus as part of a $65 million Series B funding round led by Credit Suisse. The bank has been interested in offering cryptocurrency custody and trading services to its clients for the past three years.
September 14, 2023 | 2:40 pm
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Deutsche Bank's partnership with Taurus to offer crypto custody services could potentially attract more clients and increase revenues. The bank's stock was trading 1.5% higher following the announcement.
The partnership with Taurus allows Deutsche Bank to expand its services into the growing crypto market. This could attract new clients and increase revenues, which would likely have a positive impact on the bank's stock price.
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