Taurus and Chainlink Labs have partnered to promote the use of financial institutions’ tokenized assets with support from Deutsche Bank.
According to business statements, Taurus will include Chainlink’s technology to address critical problems with tokenized assets, focusing on data accuracy, security, and cross-chain connection for institutional investors.
The alliance seeks to address security, data dependability, and asset mobility across several blockchains, which are some of the major issues surrounding tokenized assets.
Through the partnership, Taurus will integrate Chainlink’s Data Feeds and Proof of Reserve features. Data Feeds provide real-time data about asset prices and transactions, while Proof of Reserve ensures transparency and reduces the risk of over-issuing tokenized assets.
Additionally, Taurus will use Chainlink’s Cross-Chain Interoperability Protocol to facilitate the transfer of tokenized assets between other blockchains.
Tokenized assets are virtual copies of physical assets that may be exchanged on blockchain networks, like stocks, bonds, and real estate. Although these assets have the potential to be more efficient and liquid, cross-chain transfers and data transparency are needed.
The infrastructure of Chainlink is made to provide safe cross-chain connection and off-chain data to address these issues. Since the technology improves data integrity and liquidity, Taurus and Chainlink are wagering that more institutions will embrace tokenized assets due to these developments.
With FINMA’s regulatory authority, Taurus has been experimenting with tokenization for some time, providing tokenized securities trading to individual customers.
This increased access to primary and secondary markets by enabling retail users to exchange digital assets on Taurus’s regulated platform and participate in capital raises.
