Swiss cryptocurrency fintech Taurus has made significant strides in the digital finance sector with the launch of its interbank network, specifically designed for regulated institutions involved in digital asset operations. Announced on April 9, the Taurus-Network (TN) aims to streamline and enhance digital asset transactions among financial institutions globally.
The primary objectives of the Taurus-Network are to improve collateral mobility, optimize settlement speeds, and mitigate counterparty risk. By facilitating enhanced capital and liquidity management for digital assets, the network positions itself as a vital resource for financial institutions navigating the complexities of digital finance. According to Vassili Lavrov, Taurus SA’s head of product infrastructure, participants benefit from full asset sovereignty, direct interaction with counterparties, and automated compliance functions—eliminating the need for third-party involvement.
Engagement with Multiple Banking Institutions
The Taurus-Network is already operational with participation from various banks, including Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote. Lavrov noted that these banks have proactively integrated digital asset capabilities into their services, with most already providing cryptocurrency custody solutions for their clientele.
Leveraging established relationships with over 35 banking clients across four continents, Taurus aims to position the network as the default infrastructure layer for compliant and trustworthy digital asset activity, according to Lavrov.
Blockchain-Agnostic Approach
As it seeks to engage leading global financial institutions, Taurus emphasizes interoperability as one of its core strengths. Taurus-Network is designed to be blockchain-agnostic, providing support for both public and permissioned distributed ledger technologies. This strategic design enables seamless interactions across various digital asset types, including cryptocurrencies, tokenized securities, and digital currencies.
Lavrov elaborated, stating that the network’s architecture ensures institutions are not confined to a singular system, thus fostering a more versatile approach in navigating the digital asset landscape.
This developing story highlights Taurus’s innovative direction in securing a more robust framework for digital asset transactions among regulated financial entities. As the digital finance landscape continues to evolve, Taurus’s efforts could significantly impact how institutions interact with digital assets, marking a transformative chapter in financial services.
