Taurus’s fintech business has extended its custody and issuance platforms to include the Stellar network.
On Monday, June 24, the FINMA-regulated Taurus announced the expansion and mentioned that Taurus-PROTECT and Taurus-CAPITAL are operational on Stellar.
The two platforms are the custody and digital issuance and tokenization services the regulated firm provides, respectively. Taurus will thus give custody of any assets tokenized on Stellar due to the integration. The company’s technology will also support asset-agnostic issuance on the cryptocurrency platform.
“Integration with Stellar seamlessly aligns with Taurus’ strategic growth as the blockchain has been optimized and built for asset tokenization,” Jürgen Hofbauer, head of global strategic partnerships at Taurus, said.
Significant Milestone for RWA Adoption
According to the companies in the press release, Stellar’s public blockchain is seeing an increase in interest due to the most recent developments in asset tokenization, and this integration with Taurus contributes to that growth.
Taurus’ banking and non-banking clients will gain from various tokenization use cases by expanding to Stellar. This means that for structured goods, debt, equities, funds, CBDCs, and tokenized deposits, quick transactions and low fees are key to maximized efficiency.
“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, a senior director at Stellar Development Foundation, said.
According to the companies, the partnership gives banks and other issuers access to completely tailored and automated payment flows. It also implies that users can utilize additional blockchain advantages, such as programmable wallet behaviors, for real-world asset applications.
Taurus, which was established in April 2018, provides more services than merely custody and issuance of digital assets. While Taurus-EXPLORER, a blockchain node infrastructure platform that provides a secure interface with over 20 blockchain networks, and TDX, a regulated cryptocurrency assets marketplace, are among its top offers, Taurus-PROTECT currently serves over 30 different financial institutions and corporations.
Global organizations using tokenization, such WisdomTree and Franklin Templeton, have been using Stellar’s blockchain technology. In 2021, Circle introduced its USDC stablecoin on Stellar, and in September of the previous year, EURC was added.