Taurus expands to Solana with new custody platform
Taurus (CRYPTO:TAURUS), a digital asset infrastructure firm backed by Deutsche Bank, has launched its enterprise-grade custody and tokenisation platforms, Taurus-PROTECT and Taurus-CAPITAL, on the Solana (CRYPTO:SOL) blockchain.
The move enables banks and financial institutions to store, manage, and issue digital assets on Solana (SOL), a blockchain known for its fast and low-cost transactions.
The integration allows banks and issuers to custody and stake Solana-native tokenised assets via Taurus-PROTECT and issue programmable tokenised assets on Taurus-CAPITAL.
Taurus chose Solana to help clients benefit from fast transactions and cost savings while managing digital assets.
Jürgen Hofbauer, Head of Global Strategic Partnerships at Taurus, said the integration with Solana marks a significant milestone for Taurus, as Solana's scalability and cost-efficiency are unparalleled in the industry.
He added that it allows Taurus' banking and enterprise clients to tokenise assets like equity, debt, structured products, funds, tokenised deposits, and central bank digital currencies (CBDCs), while minimising costs and operational complexities.
According to Hofbauer, the integration resulted from real institutional demand from their client base, particularly from banks in the Middle East looking to expand their digital asset capabilities on Solana.
Taurus raised $65 million in a Series B fundraising round in February 2023, led by Credit Suisse, with participation from Deutsche Bank and others.
This new platform aligns with the growing real-world asset (RWA) tokenisation industry, which involves converting real-world assets, like real estate, into digital tokens by managing and trading them on a blockchain.
At the time of reporting, the Taurus (TAURUS) price was $0.0009747, and the Solana (SOL) price was $195.14.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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