- Taurus launches Taurus-NETWORK, enabling banking clients to collaborate on digital assets with a focus on collateral management.
- Early network participants include Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote.
- The solution claims to improve liquidity and capital management while allowing participants to maintain control of their assets.
Taurus, the digital asset custody technology provider, has launched a new interbank collaboration platform called Taurus-NETWORK. The solution will enable the company’s clients to work together on digital assets, with a particular emphasis on collateral management. The network already counts several banks among its early participants, including Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote.
The company, which is best known for its Taurus-PROTECT custody solution, has expanded its client base to include 35 banking clients. Notable banking investors in Taurus include Credit Suisse, Deutsche Bank, Arab Bank Switzerland, and Pictet Group. Other significant clients include CACEIS, Santander, and recently State Street, the world’s second largest global custodian.
Improved Collateral Management and Liquidity
According to Taurus, a major benefit of the new network will be enhanced liquidity and capital management. The platform’s collateral management solution allows participants to pledge collateral in exchange for funds and supports banks participating in syndicated loans.
Vassili Lavrov, Head of Product Infrastructure at Taurus, emphasized user control in the new system: “Network participants retain control of their assets and never rely on Taurus to enter or unwind transactions. Taurus-NETWORK creates an ecosystem covering public and permissioned DLTs, as well as all types of assets whether cryptocurrencies, tokenised securities and digital currencies.”
Differentiating from Competitors
Other custody providers like Fireblocks and Zodia Custody already offer similar networks and collaboration solutions. When asked about differentiation, a Taurus spokesperson explained that “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, which they described as “a significant hurdle for collaboration in digital asset trading.”
This network launch follows Taurus’s February initiative where it floated a private tokenization standard on permissionless blockchains, showing the company’s continued innovation in the digital asset space.
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