Taurus has introduced two new platforms to enhance digital asset services for banks and financial institutions. Taurus-PROTECT enables secure custody and staking of tokenized assets. Taurus-CAPITAL facilitates the issuance of programmable tokenized assets on the Solana blockchain. These platforms aim to simplify the custody and management of tokenized financial products.
Solana’s efficiency and scalability form a strong foundation for Taurus’ new offerings. The low fees combined with high-speed blockchain allow institutions to tokenize various assets such as equities, debt, and central bank digital currencies. The move is in response to growing demand for tokenization of real-world assets.
Taurus’ move is in keeping with its overall expansion of digital asset infrastructure. The company has been backed by financial institutions of large sizes such as Deutsche Bank and Credit Suisse. Taurus raised $65 million in a Series B funding in 2023. The company estimated that digital assets would be worth over a $10 trillion when more private assets would be added to the blockchain.
Real-world asset tokenization has gained traction in the financial industry. This process converts physical assets, like real estate and financial products, into digital tokens. These tokens allow for seamless trading and management on blockchain networks. By leveraging Solana, Taurus hopes to drive further adoption of this technology among traditional banks.
Taurus’ continued success in blockchain-based financial services
The launch of Taurus-PROTECT and Taurus-CAPITAL is a build on Taurus’ earlier success in tokenization. Taurus has helped a number of different issuers, such as banks and asset managers, to tokenize at least 15 financial deals in the course of the last year. The company is continuing to work towards simplifying blockchain-based financial services to institutional clients.
Meanwhile, Solana has also found more adoption in finance. Franklin Templeton introduced its money market fund in tokenized form to Solana. The investment firm also took a step towards launching a Solana-based exchange-traded fund in the US. All of these indicate the growing position of Solana in the new digital asset ecosystem.
It remains committed to pushing the boundaries of tokenization. With the acquisition of Solana, the company is set to provide a seamless process to financial institutions and banks. The action is a reaffirmation of the trend towards embracing blockchain in finance.
