- The Arab Bank announced a vital investment in Series A of Taurus Group.
- Mainly, the blockchain and digital asset offerings led by Switzerland based bank.
- Arab Bank Switzerland is going to introduce a full suite of digital asset services for XRP.
The Arab Bank Switzerland announced an investment in Series A of Taurus Group. The bank is going to introduce a full suite of digital asset services for Ripple’s XRP.
Taurus Group supports the venture
The Swiss-based company Taurus is working to build a next-gen platform for users. It will help the investors to trade, invests, and secure their digital assets.
Moreover, it has secured a CHF 8-digit series A funding round that composed of existing investors, new strategic institutional, and private investors, including Arab Bank as a leading investor.
It also comprises of Investis Group, Lombard Odier, and Swiss blockchain foundation Tezos Foundation.
Bank’s initiative towards the crypto market
Last September, the bank launched a set of digital asset services for cryptocurrencies such as Bitcoin and Ethereum that offered advisory, custody, and brokerage services.
Above all, the bank is planning to add ripple (XRP) to its offering that will commence next month, with the support of the Taurus Group.
However, this announcement was shared on Twitter, stating the Arab bank is going to introduce a full suite of digital asset services. That will offer advisory, custody, and brokerage services for XRP next month.
?Arab Bank Switzerland will launch "a full suite of digital asset services, providing advisory, custody and brokerage services" for #XRP next month. Institutional asset storage provided by the Taurus Group whom they just invested in.https://t.co/mYtt63lWqt $XRP pic.twitter.com/OjVoUi41qa
— WrathofKahneman (@WKahneman) April 30, 2020
Meanwhile, the managing partner at Arab Bank Switzerland, Rani Jabban, addressed that the bank believes that with the support of Taurus solutions, the banking industry will realize the opportunities offered by digital assets.
The Arab Bank Switzerland
Founded in 1962, the Arab Bank is one of the reputed banks of the country. The Swiss Financial Market Supervisory Authority (FINMA) controls the rules and regulations of the former Swiss-based bank.
Arab Bank Switzerland is the sister company of one of the biggest banks of the Middle East, Arab Bank Plc.