Taurus partners with banking software company Temenos

Traditional banks have yet to fully embrace cryptocurrencies, mainly because most of them are struggling to understand how crypto works. These institutions have not yet figured out how to integrate them into their existing systems. However, this could change thanks to the latest partnership between Taurus and Temenos.

Banking software company Temenos announced earlier today that it has partnered with Taurus SA, the Swiss digital asset and blockchain infrastructure fintech. The partnership will see Taurus integrate with Temenos Transact. Temenos chose Taurus as its partner to help simplify access to digital assets for its banking clients.

In a press release earlier today, Temenos said, “Taurus recently received a securities firm license from the Swiss Financial Market Supervisory Authority (FINMA) to operate the first independent regulated marketplace for digital assets in the world. The fintech is uniquely 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, the Product Director at Temenos, revealed that the company believes in the opportunities cryptocurrency presents. The industry offers banks and other wealth managers new opportunities. Indeed, institutional investors have been watching the cryptocurrency market’s performance closely in recent years. Duret added that they believe it can help them diversify their portfolios. “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. Taurus is leading the field in cryptography and blockchain technology. By joining forces, we can help banks to bridge the gap between traditional investments and digital assets,” Duret added.

Taurus now available to Temenos clients

Temenos stated that Taurus’ technology is available to its clients via the Temenos MarketPlace. Thanks to the Taurus technology, banks can provide custody to a wide range of cryptocurrencies. In addition, they can create tokenized products of their choice, and manage and service several tokenized assets using Taurus-CAPITAL and Taurus-PROTECT features.

Sébastien Dessimoz, a Managing Partner at Taurus, is confident that the demand for digital assets will continue to rise in the coming years. Thanks to this partnership, Taurus’ technology will serve more than 3,000 banks and financial institutions globally.