Taurus, a digital asset infrastructure firm, launched an enterprise-grade custody and tokenization platform, Taurus-Capital, on the Solana blockchain.
Deutsche Bank-backed Taurus aims to serve global financial institutions seeking to build tokenized asset solutions.
The integration will enable banks and issuers to custody and stake any Solana-native tokenized assets via the custody platform, Taurus-Protect, and to issue programmable tokenized assets on Taurus-Capital.
“By leveraging Solana’s high throughput and low latency, Taurus clients can achieve unprecedented levels of efficiency, enabling seamless automation of financial workflows and payment processes,” the company stated in an announcement shared with Cointelegraph on Feb. 13.
Taurus’ decision to integrate with Solana was driven by institutional demand for real-world asset (RWA) tokenization solutions, said Jürgen Hofbauer, head of global strategic partnerships at Taurus, adding:
“With this integration, our banking and enterprise clients can access an advanced platform to tokenize assets like equity, debt, structured products, funds, tokenized deposits and CBDCs, while minimizing costs and operational complexities.”
The platform is part of the growing RWA industry, which involves minting financial and tangible assets on the blockchain to improve accessibility and liquidity.
Taurus raised $65 million in a Series B fundraising round in February 2023 led by Credit Suisse, with participation from Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland and Investis.
Following the raise, Taurus said it could see potential for the digital asset industry to reach a value of more than $10 trillion by digitizing private assets.
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The convergence of TradFi and digital assets “no longer theoretical”
The Swiss Distributed Ledger Technology (DLT) Act, introduced in 2021, played a significant role in enabling regulated tokenization services for banks, Hofbauer noted.
These rigorous compliance requirements allowed banks to provide tokenization services under “clear” regulatory guidelines, meaning that “the convergence of traditional finance and digital assets is no longer theoretical,” Hofbauer said, adding:
“The integration resulted from real institutional demand from our client base — particularly from banks in the Middle East that are looking to expand their digital asset capabilities on Solana.”
“We understand there is growing interest from banking clients seeking to issue stablecoins and other tokenized assets on Solana,” he added.
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European financial institutions are increasingly interested in enterprise-grade crypto solutions.
Germany’s largest federal bank, the Landesbank Baden-Württemberg, started offering crypto custody solutions after partnering with the Austria-based Bitpanda cryptocurrency platform for its institutional custody platform, Cointelegraph reported in April 2024.
In February, DZ Bank, Germany’s second-largest bank, announced its plans to launch a crypto trading pilot. The bank unveiled its digital asset custody platform in November 2023.
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