Key Takeaways
- Taurus has integrated its digital asset custody platform, Taurus-PROTECT, and its issuance and tokenization platform, Taurus-CAPITAL, with the Stellar network.
- The integration with Stellar allows Taurus to offer its clients—both banking and non-banking institutions—faster transactions and lower fees.
- Banks and financial issuers leveraging Taurus’s services on the Stellar network can fully customize and automate payment flows.
Switzerland-based Taurus, a leader in digital asset infrastructure, announced its integration with the Stellar network, expanding its reach in the asset tokenization market. This collaboration leverages Stellar’s blockchain capabilities to enhance Taurus’s custody and tokenization platforms, Taurus-PROTECT and Taurus-CAPITAL, respectively.
The Stellar network, renowned for its efficient and cost-effective blockchain solutions, is trusted by leading financial institutions globally. By aligning with Stellar, Taurus will now offer enhanced custody services for Stellar tokenized assets and enable asset-agnostic issuance on the Stellar blockchain.
Following this expansion, Taurus can enable its banking clients, including Deutsche Bank, Credit Suisse, and Santander, to issue, customize, and manage any tokenized asset with greater ease and security.
Institutional uptake of digital assets shows no signs of slowing, a recent EY research report suggests nearly all (94%) of institutions believe in the long-term value of crypto and/or blockchain technology.
The Stellar Network is one blockchain institutions are harnessing for tokenized funds, Franklin Templeton for example has used Stellar to tokenize a $380M US government money fund.
Jürgen Hofbauer, Head of Global Strategic Partnerships at Taurus, said: “Integration with Stellar seamlessly aligns with Taurus’ strategic growth as the blockchain has been optimized and built for asset tokenization.
He highlighted the potential for their clients, including banks and non-banking financial institutions, to “benefit from reduced fees and fast transactions,” which are crucial for enhancing efficiency in transactions involving equity, debt, structured products, and potentially central bank digital currencies (CBDCs).
The Stellar network is not new to the asset issuance arena. It has been utilized by well-known entities such as Franklin Templeton, WisdomTree, and Circle for the tokenization of real-world assets. Its built-in features support rapid and low-cost tokenization, providing a solid foundation for Taurus’s offerings.
“Collaborating with Taurus represents a significant step in advancing the adoption of tokenized real-world assets within regulated financial institutions and establishing the essential infrastructure for widespread adoption,” Roberto Durscki, Senior Director at the Stellar Development Foundation, said in a statement.
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