Taurus Expands Digital Asset Services with New Solana-Based Platform

• Taurus launched a tokenization platform on Solana for global financial institutions
• Rising demand for asset tokenization drives Taurus to expand digital asset services
• Financial institutions adopt digital asset solutions with regulatory clarity

Taurus, a digital asset infrastructure firm backed by Deutsche Bank, has launched Taurus-Capital, an enterprise-grade custody and tokenization platform on the Solana blockchain. This new platform aims to serve global financial institutions looking to build tokenized asset solutions.

The integration allows banks and issuers to manage Solana-native tokenized assets through Taurus-Protect, its custody platform. Taurus-Capital also supports the issuance of programmable tokenized assets. Solana’s high throughput and low latency enhance efficiency which makes financial workflows and payment processes more seamless.

Rising Demand for Real-World Asset Tokenization

Taurus decided on Solana because of its growing demand for real-world asset tokenization solutions. The platform has enabled financial institutions to tokenize various assets, like funds, equity and central bank digital currencies among others. This has reduced costs and operational complexities for the users. The real-world asset industry continues to grow as more financial and tangible assets are minted on the blockchain, improving accessibility and liquidity.

The tokenization of real-world assets is gaining momentum as blockchain technology improves asset liquidity and accessibility. In February 2023, the company acquired $65 million in a Series B fundraising round which was led by Credit Suisse and backed by a number of other investors. The funding would enable Taurus to innovate and expand its digital asset offerings.

Increasing Adoption of Digital Asset Solutions

In 2021, Swiss’ Distributed Ledger Technology Act was introduced, to provide regulatory guidelines for tokenization services. The Act enabled banks to offer digital asset solutions without legal uncertainty.

The company has reported strong demand from banks, especially in the Middle East, to enhance their digital asset capabilities using Solana. European financial institutions are also showing interest in enterprise-grade crypto solutions.

Landesbank Baden-Württemberg, Germany’s largest federal bank, partnered with Austria-based Bitpanda to offer crypto custody solutions. DZ Bank, also announced its plans for a crypto trading pilot in February. The bank had already launched its digital asset custody platform in November 2023.