Taurus distributes on the Polygon Blockchain

Taurus SA, a FINMA-regulated European leader in digital asset infrastructure for financial institutions, today announced full integration with the leading Ethereum scaling network Polygon – including its native token MATIC & Polygon-based smart contracts – across its custody and tokenization platform. This will allow banks, brands and issuers to issue, order and service all tokenized assets via Polygon, in a fully automated manner

Taurus is a European leader in the banking segment, trusted by the entire spectrum of financial institutions: system banks, universal banks, online banks, crypto banks, private banks and broker-dealers, and has more than 60% market share in Switzerland. Taurus believes that the digitization of private assets represents the next trillion-dollar opportunity for the digital asset industry to grow to $10+ trillion. The transformation is already taking place with regulatory frameworks relating to tokenised securities being clarified in important financial centres, with Europe leading the way (see Taurus Tokenisation Report dated March 2023).

Most Tier 1 financial institutions are entering space and building capabilities to manage tokenized securities. They all want a blockchain-agnostic and token-agnostic infrastructure. That’s exactly what Taurus provides. By strategically positioning its product suite (since 2020) to allow clients to manage all digital assets, including tokenized securities, Taurus aims to provide clients with the widest possible choice, taking into account all applicable regulatory requirements. Deploying on Polygon allows regular customers to leverage Polygon’s large ecosystem, low transaction fees, and high throughput while benefiting from Ethereum layer-1 security.

Victor Busson, CMO and Head of Strategic Partnerships at Taurussaid: “Building on Polygon, one of the leading blockchain ecosystems, is a natural step for Taurus. Our banking, consumer goods and sports and entertainment clients can now benefit from low fees and faster transactions for all tokenization cases: equity, debt , structured products, funds, NFTs.”

“The tokenization of real-world assets is a simple matter at the root of the idea. The challenge is and always has been to build sufficiently advanced infrastructure to enable it,” said Colin Butler, Global Head of Institutional Capital at Polygon Labs. “I am thrilled to work with Taurus as they build this necessary infrastructure and create the foundation for robust capabilities in the tokenization space. This relationship will only further what we have seen so far, proving that the Polygon Network is a natural fit to build the rails of a tokenized future.”

In February, Credit Suisse led a $65 million Series B for Taurus with participation from Deutsche Bank and other financial institutions.