Taurus, a fintech startup offering digital asset infrastructure, has expanded its custody and issuance platforms to the Stellar network.
FINMA-regulated Taurus announced the expansion on Monday, June 24, noting that Taurus-PROTECT and Taurus-CAPITAL are now live on Stellar. The two platforms are the regulated company’s custody and digital issuance and tokenization services respectively.
As such, the integration will ensure that Taurus provides custody of all assets tokenized on Stellar. The company’s technology will also support asset-agnostic issuance on the crypto platform.
“Integration with Stellar fits seamlessly with Taurus’ strategic growth, as the blockchain is optimized and built for asset tokenization,” Jürgen Hofbauer, head of global strategic partnerships at Taurus, said in a statement.
Important milestone for the adoption of risk-weighted assets
Stellar’s public blockchain continues to see new interest amid the latest developments in asset tokenization, and this integration with Taurus contributes to that growth, the companies said in the press release.
By expanding to Stellar, Taurus’ banking and non-banking customers can take advantage of a range of tokenization use cases. This means fast transactions and lower costs are at the heart of optimized efficiency for structured products, debt, equities, CBDCs, funds and tokenized deposits.
“Partnering with Taurus represents an important step in advancing the adoption of tokenized real-world assets within regulated financial institutions and establishing the essential infrastructure for widespread adoption,” said Roberto Durscki, senior director at Stellar Development Foundation.
According to the companies, the collaboration means access to fully customized and automated payment flows for banks and other issuers. It also means users can take advantage of programmable wallet behavior and other blockchain benefits for their real-world asset projects.
Founded in April 2018, Taurus offers more than just digital asset custody and issuance services.
While the Taurus-PROTECT platform currently serves over 30 different financial institutions and businesses, the other top offerings are TDX, a regulated marketplace for crypto assets, and Taurus-EXPLORER, a blockchain node infrastructure platform that provides a secure interface to over 20 blockchain -networks.
Meanwhile, global institutions such as Franklin Templeton and WisdomTree have leveraged Stellar’s blockchain technology for their tokenization initiatives. Circle launched its USDC stablecoin on Stellar in 2021 and added EURC last September.
