Taurus Expands Presence in North America
Taurus, a Swiss firm specializing in crypto infrastructure, has announced the opening of its second office in North America, this time in New York City. This decision reflects the company’s reinforced commitment to the U.S. financial market, particularly as institutional activity in cryptocurrency increases. Effective October 29, 2023, the company unveiled its plans to expand its U.S. operations under the guidance of seasoned capital markets expert Zack Bender, who has been appointed to lead this initiative.
Strategic Expansion and Regulatory Context
The launch of the New York office follows Taurus’s earlier entry into the Canadian market earlier this year, providing a strategic platform to engage closely with major American financial entities within their core operational center. The firm has acknowledged recent regulatory advancements, specifically the introduction of the GENIUS and Clarity Acts, alongside the repeal of SAB121, as key factors necessitating a dedicated office in the U.S. market.
Bender expressed optimism about the potential for growth in digital asset adoption due to these regulatory changes, stating, “The GENIUS and Clarity Acts, combined with the repeal of SAB121, facilitate financial institutions and corporations to enhance their digital asset operations. We foresee noteworthy adoption rates soon, and I am eager to assist clients using one of the world’s most advanced infrastructures while establishing Taurus’s positioning within the U.S. landscape.”
Building Relationships and New Initiatives
Since 2020, Taurus has been scrutinizing the regulatory and market environment in the U.S. and has established remote client relationships with several banks and market participants. This new physical presence coincides with Taurus’s recent involvement in the Circle Arc public testnet, where they have been appointed a digital asset custody provider. This initiative, revealed the day before the New York office announcement, aims to develop an economic operating system for the internet that supports the seamless transfer and settlement of real-world assets on the blockchain with institutional reliability.
Global Growth and Partnerships
Globally, Taurus continues its aggressive growth strategy, and this New York office marks its thirteenth location worldwide. It follows the company’s recent establishment of an office in São Paulo, Brazil, just last month. Founded in 2018, Taurus has focused on aligning its operations with established financial institutions. The firm successfully raised $65 million in a Series B funding round in 2023 to support its international growth and product enhancement efforts, with backing from notable investors like Arab Bank Switzerland, UBS, and Pictet.
Partnerships with firms such as State Street, Deutsche Bank, Santander, and CACEIS highlight Taurus’s commitment to seamlessly integrating regulated blockchain services into existing financial frameworks, steering clear of the cultural hurdles that have impeded other crypto companies in the industry.
