Key Takeaways
- Taurus has integrated its digital asset management platform, Taurus-PROTECT, and its issuance and tokenization platform, Taurus-CAPITAL, with the Stellar network.
- Integration with Stellar will allow Taurus to offer faster transactions and lower fees to customers of both banking and non-banking institutions.
- Banks and financial issuers leveraging Taurus’ services on the Stellar network can fully customize and automate their payment flows.
Swiss based taurus, a leader in digital asset infrastructure, has announced integration with the Stellar network, expanding its reach in the asset tokenization market. This collaboration leverages Stellar’s blockchain capabilities to enhance Taurus’ custody and tokenization platforms, Taurus-PROTECT and Taurus-CAPITAL, respectively.
Known for its efficient and cost-effective blockchain solutions, the Stellar network is trusted by leading financial institutions around the world. By partnering with Stellar, Taurus will now offer enhanced custody services for Stellar tokenized assets and enable asset-agnostic issuance on the Stellar blockchain.
After this expansion, Taurus can support banking clients including Deutsche Bank, Credit Suisse and Santander.It makes it easier and more secure to issue, customize, and manage tokenized assets.
According to a recent EY research report, institutional uptake of digital assets shows no signs of slowing down. All institutions (94%) believe in the long-term value of cryptocurrency and/or blockchain technology.
Stellar Network is one of the blockchain institutions utilizing for tokenized funds. For example, Franklin Templeton used Stellar to tokenize $380 million worth of US government funds.
Jurgen Hofbauer, Head of Global Strategic Partnerships at Taurus, said: “The integration with Stellar aligns perfectly with Taurus’ strategic growth as the blockchain is optimized and built for asset tokenization.
He highlighted the potential for customers, including banks and non-bank financial institutions, to enjoy “the benefits of lower fees and faster transactions”, which are important for increasing the efficiency of transactions involving equities, debt, structured products and, potentially, central bank digital currencies. (CBDC).
The Stellar network is not new to asset issuance. It has been utilized by well-known organizations such as Franklin Templeton, WisdomTree, and Circle for tokenizing real-world assets. Built-in capabilities support fast and low-cost tokenization, providing a solid foundation for Taurus’ products.
“Our collaboration with Taurus marks an important step in fostering the adoption of tokenized real-world assets within regulated financial institutions and building the necessary infrastructure for widespread adoption,” Roberto Durscki, senior director of the Stellar Development Foundation, said in a statement. He said.
Also Read: Deutsche Bank Deposits Cryptocurrency Through Taurus Partnership