Taurus integrates Polygon blockchain enabling banks and brands to issue & custody any tokenized asset
London, Geneva, Switzerland – June 2, 2023
Taurus SA (“Taurus”), a European leader in digital asset infrastructure, is pleased to announce that it has fully integrated the leading Ethereum scaling platform Polygon blockchain — 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.
About Taurus SA
Taurus SA is a Swiss company, founded in April 2018, that provides enterprise-grade digital asset infrastructure to issue, custody and trade any digital assets: cryptocurrencies, tokenized assets, NFTs and digital currencies. With more than 60% market share in Switzerland, it is also the 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. Taurus also operates a marketplace for private assets and tokenized securities. For further information on Taurus: please visit www.taurushq.com
About Taurus’ Platform and Products
Depending on their business model, strategy and risk tolerance, Taurus’ clients are able to seamlessly manage NFTs, cryptocurrencies including staking, to digitize and tokenize any type of asset on any standard end-to-end, and to process digital currencies of their choice. Taurus’ product portfolio is composed of Taurus-PROTECT™, the leading secure storage solution in Europe which is currently used by more than 25 financial institutions and corporations. Taurus-CAPITAL™ allows to issue and manage NFTs and tokenized assets on public and private blockchains as well as interact with any smart contract. The regulated marketplace for digital assets TDX™, is connected to Taurus-PROTECT™ and Taurus-CAPITAL™. All products leverage Taurus’ blockchain node infrastructure Taurus-EXPLORER™ which provides a unified API and reliable broadcasting algorithms to interface securely with over fifteen blockchain networks.
For more information, please visit: https://www.taurushq.com
About Polygon Labs:
Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding unique addresses exceeding 211 million, over 1.12 million smart contracts created and 2.36 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative. If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon’s fast and secure txns for dApps you develop, get started here.
For more information, please visit: https://polygon.technology/
