" class="no-js "lang="en-US"> Taurus Deploys on Polygon Blockchain
Saturday, September 30, 2023

Taurus Deploys on Polygon Blockchain, Enabling Banks and Brands To Issue & Custody Any Tokenized Asset

Taurus SA, a FINMA-regulated European leader in digital asset infrastructure for financial institutions, today announced full integration with the leading Ethereum scaling network Polygon — including its native token MATIC & Polygon-based smart contracts — across its custody & tokenization platform. This will allow banks, brands, and issuers to issue, book, and service any tokenized asset via Polygon, in a fully automated way

Taurus is a European leader in the banking segment, entrusted by the full spectrum of financial institutions: systemic banks, universal banks, online banks, crypto-banks, private banks, and broker-dealers, and has more than a 60% market share in Switzerland. Taurus believes that the digitization of private assets represents the next trillion-dollar opportunity for the digital asset industry to grow to USD 10+ trillion. The transformation is already happening with regulatory frameworks related to tokenized securities clarifying in key financial centers, with Europe leading the way (see Taurus Tokenisation Report dated March 2023).

Most Tier 1 financial institutions are entering the space and building capabilities to manage tokenized securities. They all want a blockchain-agnostic and token-agnostic infrastructure. That’s exactly what Taurus provides. By strategically positioning its product suite (since 2020) to allow clients to manage any digital assets, including tokenized securities, Taurus aims to provide the widest possible choice to its clients, taking into account all applicable regulatory requirements. Deploying on Polygon allows common clients to leverage Polygon’s large ecosystem, low transaction fees, and high throughput while benefiting from Ethereum layer-1 security.

Victor Busson, CMO and head of Strategic Partnerships at Taurus, said: “Building on Polygon, one of the leading blockchain ecosystems, is a natural step for Taurus. Our banking, consumer goods and sports & entertainment clients can now benefit from low fees and faster transactions for any tokenization use cases: equity, debt, structured products, funds, NFTs.”

“The tokenization of real-world assets is a no-brainer at the root of the idea. The challenge is and always has been to build sufficiently advanced infrastructure to enable it,” said Colin Butler, Global Head of Institutional Capital at Polygon Labs. “I’m thrilled to be working alongside Taurus as they build this necessary infrastructure out and create the foundation for robust opportunities in the tokenization space. This relationship will only further what we’ve seen so far, proving that the Polygon Network is a natural fit for building the rails of a tokenized future.”

In February, Credit Suisse led a $65 million Series B for Taurus with participation from Deutsche Bank and other financial institutions.

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