Fintech
Fintech startup Taurus expands custody and issuing platforms to Stellar
Taurus, a fintech startup offering digital asset infrastructure, has expanded its custody and issuance platforms to the Stellar network.
The Bull regulated by FINMA announced expansion on Monday, June 24, noting that Taurus-PROTECT and Taurus-CAPITAL are now available on Stellar. The two platforms are respectively the custody and digital issuance and tokenization services of the regulated company.
Therefore, the integration will see Taurus provide custody of all tokenized assets on Stellar. The company’s technology will also support asset-agnostic issuance on the crypto platform.
“The integration with Stellar aligns perfectly with Taurus’ strategic growth as the blockchain has been optimized and built for asset tokenization,” Jürgen Hofbauer, head of global strategic partnerships at Taurus, said in a statement.
Significant milestone for RWA adoption
Stellar’s public blockchain continues to gain new interest amid the latest developments in asset tokenization, and this integration with Taurus adds to that growth, the companies said in the press release.
The expansion to Stellar will help Taurus’ banking and non-banking customers benefit from a variety of tokenization use cases. This means fast transactions and low fees are at the heart of optimized efficiency across structured products, debt, equity, CBDC, funds and tokenized deposits.
“Collaborating with Taurus represents a significant step in driving real-world adoption of tokenized assets within regulated financial institutions and creating the essential infrastructure for widespread adoption,” said Roberto Durscki, senior director at Stellar Development Foundation.
According to the companies, the collaboration means access to fully personalized and automated payment flows for banks and other issuers. It also means that users can leverage programmable wallet behaviors among other benefits of blockchain for their real-world asset projects.
Taurus, founded in April 2018, offers more than just digital asset custody and issuance services.
While the Taurus-PROTECT platform currently serves over 30 different financial institutions and corporations, its other primary offerings are TDX, a regulated crypto asset marketplace, and Taurus-EXPLORER, a blockchain node infrastructure platform that offers a secure interface with multiple of 20 blockchain networks.
Meanwhile, global institutions such as Franklin Templeton and WisdomTree have leveraged Stellar’s blockchain technology for their tokenization initiatives. Circle launched its USDC stablecoin on Stellar in 2021 and the EURC added in September last year.