Taurus, a fintech startup known for its digital asset infrastructure, has announced the expansion of its custody and issuance platforms to the Stellar network. The FINMA-regulated company revealed on June 24 that its platforms, Taurus-PROTECT and Taurus-CAPITAL, are now operational on Stellar. These platforms offer regulated custody and digital issuance and tokenization services, respectively.
Enhancing Custody and Tokenization Services
With this integration, Taurus will now provide custody services for any assets tokenized on the Stellar network. Additionally, Taurus’ technology will support asset-agnostic issuance on the Stellar platform. Jürgen Hofbauer, Taurus’ head of global strategic partnerships, commented on the alignment of this integration with Taurus’ strategic growth, noting that Stellar’s blockchain is optimized for asset tokenization.
Milestone for Real-World Asset Adoption
Stellar’s public blockchain is gaining traction with recent advancements in asset tokenization, and the collaboration with Taurus further bolsters this growth. The expansion to Stellar will enable Taurus’ banking and non-banking clients to benefit from a variety of tokenization use cases, including fast transactions and reduced fees for structured products, debt, equity, CBDCs, funds, and tokenized deposits.
Roberto Durscki, a senior director at the Stellar Development Foundation, emphasized the significance of this collaboration in advancing the adoption of tokenized real-world assets within regulated financial institutions. He highlighted the establishment of essential infrastructure for widespread adoption as a critical outcome of this partnership.
Streamlined and Customized Financial Solutions
The collaboration between Taurus and Stellar promises to provide fully customized and automated payment flows for banks and other issuers. It also offers programmable wallet behaviors and other blockchain benefits for real-world asset projects. Taurus-PROTECT currently serves over 30 financial institutions and corporations, while other key offerings include TDX, a regulated crypto assets marketplace, and Taurus-EXPLORER, a blockchain node infrastructure platform interfacing with over 20 blockchain networks.
Broader Implications for Stellar and the Fintech Industry
This expansion reflects a broader trend of significant institutions tapping into Stellar’s blockchain technology. Notable examples include Franklin Templeton and WisdomTree, which have leveraged Stellar for their tokenization initiatives. Circle also launched its USDC stablecoin on Stellar in 2021 and introduced EURC in September last year.
In summary, Taurus’ integration with the Stellar network marks a significant step forward in the realm of digital asset custody and issuance, reinforcing Stellar’s position as a leading blockchain for asset tokenization and signaling further growth and innovation in the fintech industry.
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