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Swiss crypto fintech Taurus has announced the creation of a new digital asset network for banks. The move aims to provide financial institutions with a secure and regulated infrastructure for trading and managing digital assets.
As stated by Sergey Lavrov, CEO at Taurus, the newly launched Taurus-Network (TN) is designed to enable seamless interaction across different digital asset types, including cryptocurrencies, tokenized securities, and digital currencies. The network operates on a blockchain-agnostic foundation, supporting both public and permissioned distributed ledger technologies.
The key feature of this network is its ability to interoperate with various blockchains, allowing financial institutions to participate in digital assets without being locked into a single system. This flexibility ensures that banks can maintain control over their assets at all times, even when trading with other participants.
Another significant advantage of the Taurus-Network lies in its collateral management solution. The platform allows participating financial institutions to pledge collateral against funds, enabling improved liquidity and capital management. Additionally, it supports banks participating in syndicated loans, providing enhanced flexibility for financial operations within the network.
Lavrov highlighted that network participants retain control over their assets at all times and are not required to rely on Taurus to initiate or unwind transactions. The CEO also emphasized the customizable workflows available for governance rules, settlement, and risk management processes, as well as integration with Taurus-PROTECT for wallet balance pledging and cold wallet trading.
The launch of Taurus-NETWORK builds upon the company’s established digital asset custody technology, Taurus-PROTECT. Furthermore, Taurus recently announced a private tokenization standard on permissionless blockchains, further demonstrating its commitment to developing infrastructure for digital assets.
Taurus’ impressive list of investors includes major financial institutions such as Credit Suisse, Deutsche Bank, Arab Bank Switzerland, and Pictet Group. With over 35 banking clients across four continents, the company is well-positioned to become the default infrastructure layer for compliant and high-trust digital asset activity.
The network’s blockchain-agnostic design allows it to support various digital asset types, ensuring seamless interaction and collaboration among financial institutions globally.
Source: https://coincentral.com/swiss-crypto-fintech-taurus-creates-new-digital-asset-network-for-banks/
