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The two companies said Wednesday Taurus is collaborating with Chainlink Labs to help financial institutions adopt tokenized assets faster.
Taurus intends to leverage Chainlink’s technology to improve tokenized assets by means of real-world data and enable compatibility across several blockchains. This covers Chainlink’s data services for market pricing, reference material, and identity validation. By guaranteeing accurate representation of reserves, Chainlink’s Proof of Reserve function will help to assure openness.
Additionally integrated by Taurus will be Chainlink’s Cross-Chain Interoperability Protocol (CCIP), tested earlier this year in a proof of concept employing USDC bridging across blockchains. Tokenized assets enabled by CCIP can be moved over any public or private blockchain.
“We’re able to provide our institutional clients unparalleled liquidity and data integrity for their tokenized assets by leveraging Chainlink’s industry-leading infrastructure,” Juergen Hofbauer, global head of strategic alliances at Taurus, said in a press release. “This cooperation exactly complements our goal to offer the most advanced and safe digital asset infrastructure available.”
Founded in 2018, Taurus is a Swiss startup offering trading, custody, and digital asset infrastructure fit for businesses.
Main developer of Chainlink, Chainlink Labs enables cross-chain interoperability and on-chain data. The technology has enabled more than $15 trillion in transactions, says the statement. Early this year, Fidelity International and crypto bank Sygnum teamed with Chainlink.You can also freely share your thoughts and comments about the topic in the comment section.