Taurus Opens First U.S. Office in New York City

TLDR

• Taurus opened its first U.S. office in New York.
• The firm secured $65 million in Series B funding in 2023.
• Taurus supports over 35 blockchain networks and offers custody solutions.

The Swiss digital asset infrastructure firm, Taurus, has opened its first United States office in New York. The decision is driven by recent regulatory developments which are fostering the mainstream adoption of digital assets among U.S. institutions and corporates.

Zack Bender has been appointed to lead the U.S. operations. Bender brings experience from senior roles at Fiserv and SWIFT, where he specialized in fintech solutions and corporate banking. Lamine Brahimi, a Taurus co-founder and managing partner, continues to steer the firm’s global strategy alongside the executive team.

Regulatory Changes Supporting Digital Assets

Recent U.S. regulatory changes have been pivotal in supporting the growth of digital assets. The GENIUS and Clarity Acts, along with the repeal of SAB 121, have created a more welcoming environment for digital asset ventures. According to Zack Bender, these legislative developments are driving financial institutions and large corporates to expand their digital asset activities.

Lamine Brahimi described the new U.S. office as a strategic move aimed at serving sophisticated financial institutions. Brahimi emphasized that the current regulatory climate enables Taurus to offer digital asset services directly from the United States.

Funding and Market Entry Plans

In 2023, Taurus secured $65 million in a Series B funding round. The funding was led by Arab Bank Switzerland, UBS, and Pictet, with intentions for product development and expansion, including entry into the U.S. market. Current Taurus clients include major financial players like State Street, Deutsche Bank, Santander, and CACEIS.

The opening of the U.S. office is expected to unlock commercial opportunities, as regulatory clarity enables compliant growth among banks and corporate clients. Taurus’s infrastructure supports over 35 blockchain networks, providing custody, tokenization, and trading solutions.

Infrastructure and Digital Asset Coverage

Taurus offers a suite of products that cover major cryptocurrencies, including Ethereum (ETH) and Bitcoin (BTC), as well as tokenized assets, NFTs, and digital currencies. The firm’s institutional orientation suggests potential indirect impacts on regulated custody and tokenization activities.

No specific on-chain data, such as total value locked (TVL) or liquidity shifts, have been reported. However, Taurus’s focus on institutional clients indicates that the infrastructure is likely to facilitate significant flows into regulated custody and tokenization offerings.

Comparing Regulatory Environment and Market Impact

The recent U.S. regulatory developments have been transformative for the digital asset sector. The GENIUS and Clarity Acts, alongside the repeal of SAB 121, make the U.S. an attractive market for digital asset expansion. Taurus’s move is reflective of a broader trend where firms are capitalizing on regulatory clarity to increase participation from institutional investors.

Other infrastructure providers, such as Fireblocks and Anchorage, have made similar expansions in times of clear regulations, often resulting in increased institutional involvement. Taurus’s presence in the U.S. is likely to drive competitors and financial institutions to accelerate their plans for entering the market.