Taurus Expands Custody and Tokenization Services to Solana

Taurus, a Swiss-based digital asset company, has expanded its digital asset custody and token services to the Solana blockchain. According to the announcement, this expansion means banks can now issue, manage, and securely store digital assets on Solana.

This development is important in the growing connection between traditional finance and blockchain technology as banks seek new ways to incorporate digital assets into their services.

Benefits of Taurus Expansion

It is worth noting that Taurus’s move to Solana comes at an important time as more institutions seek secure and scalable ways to manage digital assets. 

Solana’s design allows for fast transaction processing and scalability, making it a good option for businesses operating efficiently with digital assets. By allowing banks to issue and manage these assets, Taurus is helping to change financial services and support the wider use of blockchain technology in institutional banking.

This expansion highlights the growing role of blockchain technology in finance and shows Taurus’s commitment to using advanced technology to offer better digital asset services.

Meanwhile, Taurus’s move follows closely on the heels of Franklin Templeton expanding its on-chain U.S. Government Money Fund (FOBXX) to Solana. 

This move shows confidence in Solana’s capabilities and highlights growing interest from institutions in blockchain technology. The expansion of the U.S. Government Money Fund is significant because it lets investors access digital assets linked to low-risk U.S. government securities through the Solana network.

Taurus Expands its Services to Stellar Network

Last year, Taurus also announced the expansion of its digital asset custody and issuance services to the Stellar Network. As reported by TheCoinRise, Taurus’s digital asset custody platform, Taurus-PROTECT, and its digital issuance and tokenization platform, Taurus-CAPITAL, are now available on Stellar’s open-sourced public blockchain.

The integration into Stellar’s ecosystem is a strategic move for Taurus, aimed at broadening its reach and enhancing its service offerings. Taurus can offer its clients access to a global and inclusive financial infrastructure by tapping into Stellar’s network. 

Likewise, the collaboration will improve Taurus digital asset custody and issuance services by increasing efficiency, security, and accessibility.

Taurus Continues in its Quest to Go Global

Recall that in 2023, the Swiss crypto firm raised $65 million to develop its platform and its ideas of getting global. 

Credit Suisse led the Series B funding round. Other institutional investors that participated were Deutsche Bank, Pictet Group, Cedar Mundi Ventures, and others. The funds were used to empower Taurus’ plan of hiring top engineering talents for additional development and expanding client relationships and sales.

The funds were also used to uphold the toughest security, risk, and compliance standards across product lines, procedures, and organizations.