TLDR
- Taurus has launched Taurus-Network (TN), an interbank network for digital assets
- The network includes participants such as Arab Bank Switzerland, Capital Union Bank, Misyon Bank, and Swissquote
- TN aims to improve collateral mobility, settlement speed, and reduce counterparty risk
- Participants retain full sovereignty over assets with automated compliance
- The network is blockchain-agnostic, supporting both public and permissioned distributed ledger technologies
Swiss cryptocurrency fintech Taurus has launched a new interbank network designed for regulated institutions involved in digital asset operations. The Taurus-Network (TN) aims to simplify and improve digital asset transactions between financial institutions worldwide.
Announced on April 9, the network focuses on enhancing collateral mobility, optimizing settlement speed, and reducing counterparty risk. It also aims to benefit capital and liquidity management in digital assets.
Vassili Lavrov, Taurus SA’s head of product infrastructure, told Cointelegraph that participants can retain full sovereignty over their assets. They can interact directly with counterparties and benefit from automated compliance without third-party intervention.
Banking Participants
The Taurus-Network launches with several banks already on board. Participants include Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote.
According to Lavrov, these banks have all taken steps to integrate digital asset capabilities into their operations. Most are 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,” Lavrov said.
Taurus has some heavyweight backing in the banking world. Its investors include Credit Suisse, Deutsche Bank, Arab Bank Switzerland, and Pictet Group.
Other major financial institutions such as CACEIS, Santander, and State Street are among Taurus’ banking clients. State Street, the world’s second-largest global custodian, is a recent addition to Taurus’ client list.
Technical Features
Interoperability stands as a core strength of the Taurus-Network as the company aims to attract major global regulated financial institutions.
The network is blockchain-agnostic and supports both public and permissioned distributed ledger technologies. This design allows for seamless interaction across different digital asset types.
“It’s engineered to enable seamless interaction across different digital asset types, whether cryptocurrencies, tokenized securities, or digital currencies,” Lavrov explained.
He added that the network is designed to interoperate across public and permissioned blockchains. This ensures that institutions “aren’t locked into one system.”
Collateral Management
A major benefit of using the Taurus-Network will be improved liquidity and capital management. The network includes a collateral management solution that enables participants to pledge collateral in exchange for funds.
The system also supports banks participating in syndicated loans. This adds flexibility to the financial operations possible within the network.
“Network participants retain control of their assets and never rely on Taurus to enter or unwind transactions,” Lavrov stated.
According to a Taurus spokesperson, “Taurus-NETWORK stands out from similar networks as it offers customizable workflows for governance rules, settlement, and risk management processes among other features.”
The spokesperson added that integration with Taurus-PROTECT for wallet balance pledging and cold wallet trading reduces counterparty risk. This addresses what they describe as “a hurdle for collaboration in digital asset trading.”
Taurus is already known for its digital asset custody technology, Taurus-PROTECT. The new Taurus-NETWORK builds on this foundation to enable client collaboration on digital assets.
In February, Taurus also floated a private tokenization standard on permissionless blockchains. This move further demonstrates the company’s commitment to developing infrastructure for digital assets.
