The partnership will see banks throughout the globe seamlessly combine cryptocurrencies throughout their monetary merchandise
Swiss banking software program big Temenos AG has chosen blockchain fintech agency Taurus SA as its partner on a challenge that ought to see the latter assist over 3000 banks entry and combine digital property. Currently, one out of each two banks in Switzerland runs Taurus’ blockchain know-how.
Through the Temenos MarketPlace, banking shoppers will use Taurus’ blockchain know-how to “bridge the gap between traditional investments and digital assets,” mentioned Alexandre Duret, Product Director at Temenos. The partnership will subsequently see banks effortlessly handle any property on the blockchain, together with conventional securities and money.
“…We are pleased to collaborate with Temenos, the world-leading banking software, and be able to make available our technology to Temenos’ client base of more than 3,000 banks and financial institutions worldwide,” mentioned Sébastien Dessimoz, Managing Partner at Taurus.
According to Duret, there are quite a few alternatives inside the digital asset area for banks and wealth managers, together with utilizing cryptocurrencies to diversify portfolios. However, there may be extra that banks can profit from within the broader blockchain sector.
One of those is tokenised securities, which the banker factors out is an space with “the potential to transform the value chain with simpler issuance procedures, greater liquidity and real-time settlement.”
Taurus was lately awarded a license to function as a securities agency by the Swiss Financial Market Supervisory Authority (FINMA), permitting the fintech firm to provide its technological options as an independently regulated supplier.
As famous within the press launch, Monday 17 May, Taurus’ merchandise embody crypto-focused choices in staking, decentralised finance (DeFi), tokenised property, and digital currencies. Specific merchandise banks could have entry to are Taurus-CAPITAL for tokenisation, Taurus-PROTECT for crypto custody and Taurus-EXPLORER for blockchain interoperability.