Taurus Launched Solana-Based Custody And Tokenization For Banks

Taurus-Capital Secure And Efficient Solana-Based Platform For Banks

Taurus Launches Easy-to-Use Digital Asset Platform for Banks

Taurus, a company supported by Deutsche Bank, has introduced a new system to help banks handle digital assets. This system is built on Solana low-cost blockchain. With this launch, Taurus makes it easier for banks to create, store, and manage digital assets safely.

How Taurus Helps Banks

Taurus’ new system has two main parts:

• Taurus-Protect: A safe place where banks can store digital assets.

• Taurus-Capital: A tool for banks to create and manage digital tokens like stocks, bonds, and digital money.

These services make it easy for banks to use blockchain while following rules to stay safe.

Why Solana?

Taurus picked Solana because it is fast and cheap. Solana helps banks do financial tasks quickly and at a low cost. It also helps banks save money by making financial processes automatic.

Banks Want Tokenization

More and more banks want to use tokenization to make finance modern. Taurus sees many banks, especially in the Middle East, wanting to use Solana for digital assets.

“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.” said Jürgen Hofbauer, head of partnerships at Taurus.

Making real-world things into digital tokens is becoming popular. It helps more people access and trade assets easily. Experts from Taurus said tokenized assets could be worth over $10 trillion in the future.

Taurus is leading this change. In 2023, it got $65 million from big financial companies like Credit Suisse, Deutsche Bank, and Arab Bank Switzerland. This money helped Taurus create better digital tools for banks.

Traditional Banks Using Digital Assets

The introduction of digital assets in traditional banking is not just an idea—it is happening now. In Switzerland, the Distributed Ledger Technology (DLT) Act, introduced in 2021, which allowed banks to provide tokenization services under clear regulatory guidelines. This has encouraged many banks to explore blockchain technology.

Many big European banks, such as Germany’s DZ Bank and Landesbank Baden-Württemberg, are also starting to store and trade digital assets. More banks are realizing that digital assets and blockchain are important for the future.

Germany's largest federal bank, Landesbank Baden-Württemberg, started providing crypto custody services after collaborating with the Austria-based Bitpanda cryptocurrency platform. In February, DZ Bank, the country's second-largest bank, revealed plans to start a crypto trading pilot. It also introduced its digital asset custody platform in November 2023.

The Future of Banking

By using Taurus’ system, banks can now handle digital assets more easily. This helps to connect traditional finance with blockchain technology. As more banks are now starting to use tokenization, finance will become safer, faster, and open to more people.