Swiss core banking vendor Temenos is to deliver access to digital assets for its banking clients through a relationship with local startup Taurus.
Taurus recently received a securities firm license from the Swiss Financial Market Supervisory Authority (Finma) to operate an independent regulated marketplace for digital assets.
The fintech is able to cover cryptocurrencies including Staking and Decentralized Finance (DeFi), any type of tokenized assets on any standard including issuance and full-lifecycle management, and digital currencies - all within the same platform.
Alexandre Duret, product director at Temenos, says: “We believe that digital assets represent new opportunities for banks and wealth managers. Investors are increasingly aware of the performance of cryptocurrencies, which can effectively participate in the diversification of a portfolio. But other applications of blockchain technology, such as tokenized securities have the potential to transform the value chain with simpler issuance procedures, greater liquidity and real-time settlement. By joining forces, we can help banks to bridge the gap between traditional investments and digital assets.”
Available over Temenos Transct via the vendor's partner ecosystem marketplace, Taurus brings the capability to integrate and manage any digital asset, whether traditional securities, cash or digital assets, through a full suite of products: Taurus-Capital (tokenization and lifecycle management), Taurus-Protect (hot, warm, cold digital asset custody), and Taurus-Explorer (API-based blockchain connectivity to more than 10 blockchain protocols).
Sébastien Dessimoz, managing partner at Taurus, comments: “Digital assets represent a major shift in the industry and we see an acceleration in demand since 2020. We are pleased to be able to make available our technology to Temenos’ client base of more than 3,000 banks and financial institutions worldwide. Taurus end-to-end platform will allow Temenos clients to manage any digital asset and create products in a couple of clicks.”