Temenos teams with Taurus to unlock banks’ access to crypto assets
Taurus and Temenos have announced plans to join forces to help banks seamlessly integrate all forms of digital assets across cryptocurrencies, tokenized assets and digital currencies
Temenos , the banking software company, today announced the integration of Taurus SA (“Taurus”), the Swiss digital asset and blockchain infrastructure fintech, with Temenos Transact, the next-generation core banking software. Following a thorough landscape review and evaluation process, Temenos selected Taurus as a partner to deliver simplified access to digital assets for its banking clients.
Taurus recently received a securities firm license from the Swiss Financial Market Supervisory Authority (FINMA) to operate the first independent regulated marketplace for digital assets globally. The fintech is uniquely able to cover cryptocurrencies, including Staking and Decentralized Finance (DeFi), any tokenized assets on any standard, including issuance full-lifecycle management, and digital currencies – all within the same platform.
Alexandre Duret, Product Director at Temenos, said: “We believe that digital assets represent new opportunities for banks and wealth managers. Investors are increasingly aware of the performance of cryptocurrencies, which can effectively participate in the diversification of a portfolio. But other applications of blockchain technology, such as tokenized securities have the potential to transform the value chain with simpler issuance procedures, greater liquidity and real-time settlement. Taurus is leading the field in cryptography and blockchain technology. By joining forces, we can help banks to bridge the gap between traditional investments and digital assets.”
This collaboration allows banks to not only provide custody to a wide range of digital assets but also further innovate by creating tokenised products of their choice. Depending on their business model and regulatory framework, banks will also be able to create, manage and service a wide range of tokenized assets leveraging Taurus-CAPITAL and Taurus-PROTECT functionalities.
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Sébastien Dessimoz, Managing Partner at Taurus, added: “Digital assets represent a major shift in the industry and we see an acceleration in demand since 2020. We are pleased to collaborate with Temenos, the world-leading banking software, and be able to make available our technology to Temenos’ client base of more than 3,000 banks and financial institutions worldwide. Taurus end-to-end platform will allow Temenos clients to manage any digital asset and create products in a couple of clicks.”
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