Taurus has unveiled the first interbank digital asset network.
Takeaway Points
- Taurus has unveiled the first interbank digital asset network.
- The company NETWORK launched with the participation of Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote.
- Taurus is a Switzerland-based financial technology company providing enterprise-grade digital asset infrastructure solutions.
First Interbank Digital Asset Network
Taurus, a leading European provider of digital asset infrastructure for banks, on Wednesday announced the launch of Taurus-NETWORKTM (TN), a groundbreaking technology solution connecting Taurus-PROTECT clients to enhance collaboration at a time when financial institutions are accelerating digital asset adoption. By unlocking new use cases such as collateralized lending, radically streamlining costly on-chain operational processes, and strengthening regulatory compliance, TN is expected to have a significant market impact, particularly in capital and liquidity management.
Vassili Lavrov, Head of Product Infrastructure, remarked, “We have been building Taurus-NETWORKTM step by step, and I wanted to thank our engineers for their hard work and our clients for their regular feedback. Network participants retain control of their assets and never rely on Taurus to enter or unwind transactions. Taurus-NETWORK creates an ecosystem covering public and permissioned DLTs, as well as all types of assets whether cryptocurrencies, tokenised securities, and digital currencies.”
Rani Jabban, Managing Director and ExCo member at Arab Bank Switzerland, commented, “Joining Taurus-NETWORK aligns perfectly with our commitment to innovation and operational excellence in the digital asset space. It empowers us to securely collaborate with other leading financial institutions while retaining full control over our operations. Taurus-NETWORK sets a new standard for efficiency and trust in the industry, and we’re excited to be part of it.”
Patrick Zbinden, CEO at Capital Union Bank, said, “We are excited to combine the capabilities of CUBNET, Taurus-PROTECT, and Taurus-NETWORK to deliver a market-leading solution for the seamless settlement of digital assets amongst institutional players.”
What is Taurus-PROTECT?
Taurus-PROTECT is a secure, institutional-grade custody solution designed to enable banks and financial institutions to safeguard their digital assets while maintaining full sovereignty over their operations, Taurus said.
About Taurus-NETWORK
According to the report, Taurus-NETWORK creates a connected ecosystem of primarily regulated institutions that streamlines operations and improves collaboration between members. Its built-in collateral management system minimizes counterparty risk, making cross-institutional interactions more secure and efficient than other alternatives.
The Taurus-NETWORK ecosystem benefits for Taurus’ clients include access to the largest interbank digital asset network, banking-grade collateral management, real-time settlement, embedded compliance, automation of operations and interactions, and a new standard in security and counterparty risk management.
The company explained that its-NETWORK launched with the participation of Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote. Extra major financial institutions are expected to join in the first semester of 2025.
About Taurus
Founded in 2018, Taurus is a Switzerland-based financial technology company providing enterprise-grade digital asset infrastructure solutions. It offers products and services for issuing, storing, and trading all types of digital assets, including cryptocurrencies, tokenized assets, NFTs, and digital currencies. Additionally, Taurus operates a marketplace for private assets and tokenized securities and is a securities firm regulated and supervised by FINMA.
