- Taurus, a provider of digital asset infrastructure, revealed its plans to enhance tokenization initiatives in Europe by completely integrating with the Polygon blockchain.
- Tokenization is the process of transforming both physical and non-physical entities into digital tokens.
On June 2, Taurus, a provider of digital asset infrastructure, revealed its plans to enhance tokenization initiatives in Europe by completely integrating with the Polygon blockchain. As per the statement, the integration will enable the Swiss company to assist conventional financial institutions in tokenizing various real-world assets and effectively managing them through a fully automated procedure.
Credit Suisse and Deutsche Bank, two major European banking institutions, have provided support and participated in Taurus’ most recent fundraising round, which took place in February. Additionally, Taurus enjoys backing from these prominent players in the banking industry.
Taurus will enable its clients effortlessly generate digital securities through this integration. It boasts a client base of more than 25 organizations across nine countries, encompassing institutions like Arab Bank Switzerland, CACEIS Bank, Crédit Agricole, Credit Suisse, Deutsche Bank, Pictet, Swissquote, and Vontobel.
Taurus Foresees Multi-Trillion Dollar Growth in Digital Assets Industry Amid Regulatory Clarity and Tokenization Opportunities
The Swiss-based firm stated that there will be substantial growth in the digital assets industry in the near future, surpassing the $10 trillion mark. This projection is reinforced by the increasing regulatory clarity surrounding the sector and its diverse components. Taurus considers the digitalization of personal assets to be the “next trillion-dollar opportunity.”
Tokenization is the process of transforming both physical and non-physical entities into digital tokens. Tangible assets like real estate, stocks, and art can be tokenized, as well as intangible assets such as loyalty points and voting rights. The conventional financial sector has recently exhibited a significant interest in this domain, leading numerous banks to experiment with tokenizing a range of assets.
As stated by Taurus, “Most Tier 1 financial institutions are entering the space and building capabilities to manage tokenized securities. They all want a blockchain-agnostic and token-agnostic infrastructure. That’s exactly what Taurus provides.” With a forward-thinking approach since 2020, Taurus has ingeniously tailored its product suite to empower clients to manage an extensive array of digital assets, including tokenized securities.
Taurus added that offering such a comprehensive selection ensures its clients have ample choices while adhering to relevant regulatory guidelines. Moreover, by integrating with Polygon, Taurus enables shared clients to harness the vast ecosystem, enjoy minimal transaction fees, and experience high transaction processing capacity, all while leveraging the robust security of Ethereum’s layer-1 infrastructure.
Colin Butler, the Global Head of Institutional Capital at Polygon Labs, stated, “The tokenization of real-world assets is a no-brainer at the root of the idea. The challenge is and always has been to build sufficiently advanced infrastructure to enable it.”
Reasons Why Taurus Choose Polygon
According to Taurus, one of the reasons why they chose Polygon among other blockchain scaling solutions is its expansive ecosystem, remarkably low transaction fees, and exceptional transaction processing capacity. Taurus believes these attributes enable them to offer services with minimal risk and optimum efficiency.
Moreover, the firm plans to incorporate staking and decentralized finance support as an integral part of its integration with Polygon.
