Crypto fintech Taurus launches interbank network for digital assets

Swiss cryptocurrency fintech Taurus has launched an interbank network that is purpose-built for regulated institutions involved in digital asset operations.

On April 9, Taurus announced it launched Taurus-Network (TN), an interbank network designed to simplify and improve digital asset transactions between regulated financial institutions worldwide, the firm said in an announcement shared with Cointelegraph.

Taurus’ TN aims to improve collateral mobility, optimize settlement speed and reduce counterparty risk while benefiting capital and liquidity management in digital assets.

Among the key benefits of the network is the ability for participants to retain full sovereignty over assets, direct interaction with counterparties and automated compliance without third-party intervention, Taurus SA’s head of product infrastructure, Vassili Lavrov, told Cointelegraph.

Multiple banks already involved

The Taurus-Network launches with participation from several banks worldwide, including Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank and Swissquote.

According to Lavrov, all of those banks have taken meaningful steps to integrate digital asset capabilities within their operations, with most of them already offering custody of cryptocurrencies to their clients.

“By building on Taurus’ relationships with over 35 banking clients across four continents, the network is positioned to become the default infrastructure layer for compliant, high-trust digital asset activity,” the exec noted.

A blockchain-agnostic network

As Taurus expects to tap major global regulated financial institutions for its network, the firm ensures that interoperability is among its core strengths.

The Taurus-Network is blockchain-agnostic and supports both public and permissioned distributed ledger technologies, Lavrov said, adding:

“It’s engineered to enable seamless interaction across different digital asset types, whether cryptocurrencies, tokenized securities, or digital currencies.”

He also added that the network is designed to interoperate across public and permissioned blockchains, so institutions “aren’t locked into one system.”

This is a developing story, and further information will be added as it becomes available.

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