Taurus, the Swiss-based blockchain infrastructure provider for major banks & institutional investors, just made a big move with Hedera. The custody provider now embraces Hedera’s full-fledged technology stack, enabling their customers to use all HBAR-powered services, from the custody of digital assets to the issuance of tokenized products – through a single provider.
Swiss Infrastructure Provider Proudly Taps HBAR Network
Taurus is a fintech startup from Switzerland, but despite the young age of just 18 months have already signed quite a few impressive agreements to their name. One of which is Deutsche Bank, the most-established German bank, while Taurus is also known to serve State Street – an American custody & financial management giant with roughly $5.4 trillion under their belt.
With MiCA in force, banks want providers that can service all aspects of tokenization & the mix of Taurus’ three-headed platform & Hedera Hashgraph’s efficient Distributed Ledger Technology (DLT) sets up the perfect play: the deal covers all bases, including:
- Top-notch security verified digital asset custody, staking, node infrastructure
- Native custom crypto token issuance through the Hedera Token Service (HTS)
- Smart contract deployment via Hedera’s EVM-compatible Smart Contract Service
The project was actively funded by the Swiss-based Hashgraph Association, a non-profit organization that carries the global adoption quest of HBAR Network. Here’s what The Hashgraph Association’s President Kamal Youssefi had to say about the landmark deal:
“With the MICA regulatory framework taking effect in Europe, alongside the progress in the USA with the Clarity Act, institutional investors and highly regulated financial institutions can now enter the Web3 space with ease and confidence, thanks to the full integration of the Hedera technology stack into Taurus’s crypto infrastructure solutions.”
Moreover, the new Hedera Hashgraph tech stack on Taurus brings new capabilities for those builders looking to develop more blockchain-linked banking infrastructure. Stablecoin issuers, miscellaneous tokenization engines & hedge fund administrators are now able to run on HBAR via Taurus custody.
With HBAR Network already registering over 70 billion transactions to this date, no hiccups & an ultra cost-effective system definitely added towards this decision. Another key point is Hedera’s rich background in the legal field: the chain’s operated by a governing council that holds a roster of global organisations, including Google, IBM, Deutsche Telekom, Standard Bank and, since this year, Accenture and FedEx.
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