Taurus Integrates with Polygon Ecosystem to Tokenize Traditional Assets

Swiss infrastructure startup Taurus announced the integration of the Polygon ecosystem to “issue, register and service” tokenized assets. This is reported Decrypt.

The partnership will also allow the organization’s clients to hold and trade traditional securities such as stocks and bonds in the form of tokens.

“By using digital securities, financial institutions and issuers can make non-traditional assets bankable. Specifically, to issue, transfer and trade securities automatically, using the capabilities of smart contracts,” the company said.

According to a Taurus spokesperson, most Tier 1 financial institutions are already interested in issuing security tokens with an eye on “blockchain independent infrastructure.”

Colin Butler, Head of Institutional Capital at Polygon, said turning traditional assets into digital assets “isn’t difficult.” According to him, the partnership will “create the foundation for robust opportunities in the tokenization space.”

Taurus added that 70% of customers, including Arab Bank Switzerland, Credit Suisse and Deutsche Bank, are already ready to use the new tokenization opportunities.

In March, Taurus raised $65 million in a Series B funding round led by the second-largest bank in Switzerland, Credit Suisse.

Recall that, according to Citi analysts, by 2030 the capitalization of security tokens will reach $4 trillion.

Earlier, Moody’s pointed to the possibility of saving funds and increasing the transparency of their use for municipalities when issuing bonds using the blockchain.

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2023-06-02 15:33:30
#Startup #Taurus #integrated #Polygon #asset #tokenization #ForkLog

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