Taurus, a Swiss fintech company regulated by FINMA in Switzerland, has recently announced its expansion into the Middle East with a new office located in Dubai.

The company, known for providing institutional-grade digital asset infrastructure, has chosen Dubai for its new United Arab Emirates (UAE) office, situated in the Dubai International Financial Centre (DIFC).

The Dubai office will be led by Managing Director Bashir Kazour, a seasoned professional with over two decades of experience in retail, capital markets, and technology. Kazour’s extensive background includes roles at the Royal Bank of Canada, Standard Chartered, and FIS, a prominent banking and payment technology provider.

His previous work has involved close collaboration with a diverse range of clients, from sovereign wealth funds and central banks to brokers and family offices.

“I am excited to lead Taurus‘ efforts and build a winning franchise in the Middle East, a region known for its rapid adoption of blockchain technology and digital assets,”

acknowledged Bashir.

“Taurus is well-known for its unique custody and tokenization capabilities serving banking clients and large enterprises, which aligns perfectly with the needs of the region. We’ve already started interacting closely with  regulators, central banks, and clients. and I’m looking forward to delivering cutting-edge and compliant solutions to the market.”

Taurus decision to expand into Dubai aligns with the UAE’s recent efforts to create a more defined regulatory environment for digital assets. Key developments in the region include the establishment of the Virtual Assets Regulatory Authority (VARA) in Dubai and other significant initiatives focusing on digital assets and innovation, such as ADGM and RAK DAO.

Taurus SA’s recent expansion into Dubai comes after establishing a presence in Europe. In Switzerland, it has gained a significant market share in the digital asset infrastructure sector, catering primarily to banks and corporates.

The company has also formed partnerships, notably with Deutsche Bank and CACEIS, a global custodian. Furthermore, Taurus completed a Series B funding round in February, securing US$65 million with contributions from several investors, including Arab Bank Switzerland, Credit Suisse, and Pictet.

This article first appeared on fintechnews.ae

Featured image credit: Edited from freepik