Taurus Launches Solana-Based Digital Asset Platform

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

This integration allows banks and issuers to store and stake any Solana-based tokenized assets through the Taurus-Protect custody platform, as well as issue programmable tokenized assets on Taurus-Capital.

Taurus stated that by leveraging Solana’s high throughput and low latency, clients can automate financial workflows and payment processes, achieving new levels of efficiency.

Taurus’ decision to integrate with Solana was driven by institutional demand for real-world asset (RWA) tokenization. Jürgen Hofbauer, the company’s Head of Global Strategic Partnerships, noted that banks and companies will have access to an advanced platform to tokenize assets such as equities, debt, structured products, funds, tokenized deposits, and CBDCs.

The platform is part of the growing RWA industry, which aims to increase accessibility and liquidity by minting financial and tangible assets on the blockchain.

Taurus raised $65 million in a Series B funding round led by Credit Suisse in February 2023, with participation from Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland, and Investis.

Following the investment, Taurus stated it sees potential for the digital asset industry to surpass a $10 trillion value by digitizing private assets.

The Convergence of TradFi and Digital Assets is “No Longer Theoretical”

The Swiss Distributed Ledger Technology (DLT) Act, introduced in 2021, played a significant role in enabling regulated tokenization services for banks, Hofbauer noted.

These rigorous compliance requirements have allowed banks to offer tokenization services under “clear” regulatory guidelines, meaning that the convergence of traditional finance and digital assets is “no longer theoretical,” Hofbauer added.

“The integration resulted from real institutional demand from our client base—particularly from banks in the Middle East looking to expand their digital asset capabilities on Solana,” he said.

“We understand there is growing interest from banking clients seeking to issue stablecoins and other tokenized assets on Solana,” Hofbauer concluded.

European financial institutions are increasingly interested in enterprise-grade crypto solutions.

Germany’s largest federal bank, Landesbank Baden-Württemberg, began offering crypto custody solutions after partnering with the Austria-based Bitpanda cryptocurrency platform for its institutional custody platform, according to a report in April 2024.

In February, DZ Bank, Germany’s second-largest bank, announced plans to launch a crypto trading pilot. The bank unveiled its digital asset custody platform in November 2023.

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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.

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The initiative will be introduced to investment firm RealUnit Schweiz AG, which primarily focuses on real assets, and will go live in November. Victor Busson, chief marketing officer at Taurus SA, stated that tokenized shares offer “the same economic and social rights as traditional shares.” He also emphasized that in the event of a loss of tokenized shares, unlike cryptocurrencies, issuers can create “new” tokens in accordance with their shareholder registers.

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The tokenized shares will be traded on the Taurus Digital Exchange (TDX) platform, which will increase liquidity access for Swiss SMEs. Investors will be able to own shares digitally with tokenized shares and choose between unregistered and registered shares. Taurus will include shares tokenized by Aktionariat on the TDX platform, providing access to banks, investors and retail customers.

The first issuer of this initiative will be RealUnit Schweiz AG, which will tokenize its shares in 2022. CEO Dani Stüssi said that this step is a natural progression to increase accessibility and liquidity for investors.

Taurus also began to tokenize SME loans in December 2023 in collaboration with German fintech firm Teylor. This collaboration offers token holders the opportunity to receive monthly cash flows and enables professional private debt investors to trade on blockchain-based secondary markets.

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In addition to existing professional and institutional customers, retail users can now create an account with the regulated securities firm to participate in capital raises and trade digital assets and tokenized securities in a secure and compliant manner, Taurus said.

The approval, Taurus said, allows companies to access both primary and secondary markets, serving both retail and professional investors and increasing the liquidity of digital securities.

In addition, companies can create their own trading segments and adapt liquidity through auction-based or continuous trading, Taurus said. This facilitates efficient capital raising and real-time management of digital securities.

Taurus also announced a new list of issuers that have chosen TDX as their preferred venue for trading digital securities, including Investis Group, la Mobilière, Qoqa, SCCF, Swissroc, and Teylor.

“Our core belief at Taurus is that private markets 2.0 will be digitized, making it as easy to buy a private security as it is to buy a book on Amazon,” said Yann Isola, Head of Product at TDX. “The growing demand for real-world asset (RWA) tokenization, which is the fastest growing market segment in the digital asset space, corroborates this belief.”

What is Taurus?

Taurus provides digital asset infrastructure for the issuance, custody, and trading of digital assets, including tokenized securities, cryptocurrencies, NFTs, and digital currencies.

In September, Deutsche Bank partnered with Taurus to offer its customers digital asset custody and tokenization services. The bank also participated in Taurus’s $65 million Series B funding round in February 2023.

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