Taurus Bridges Traditional Finance and Blockchain with Solana Expansion

Taurus, a Swiss-based digital asset company, has expanded its digital asset custody and tokenization services to the Solana blockchain. This move allows banks to issue, manage, and securely store digital assets on the Solana network, further bridging the gap between traditional finance and blockchain technology.

Taurus's decision to expand to Solana comes at a crucial time as more institutions seek secure and scalable ways to manage digital assets. Solana's fast transaction processing and scalability make it an attractive option for businesses operating with digital assets. By enabling banks to issue and manage these assets, Taurus is driving change in financial services and supporting the wider adoption of blockchain technology in institutional banking.

This expansion follows closely on the heels of Franklin Templeton's decision to expand its on-chain U.S. Government Money Fund (FOBXX) to Solana. This move demonstrates growing confidence in Solana's capabilities and increasing interest from institutions in blockchain technology. The expansion of the U.S. Government Money Fund allows investors to access digital assets linked to low-risk U.S. government securities through the Solana network.

Last year, Taurus also announced the expansion of its digital asset custody and issuance services to the Stellar Network. The integration into Stellar's ecosystem broadens Taurus's reach and enhances its service offerings. By tapping into Stellar's global and inclusive financial infrastructure, Taurus can provide its clients with access to a wider range of services. The collaboration also improves Taurus's digital asset custody and issuance services by increasing efficiency, security, and accessibility.

Taurus's global expansion is supported by a Series B funding round led by Credit Suisse, with other institutional investors such as Deutsche Bank, Pictet Group, and Cedar Mundi Ventures participating. The funds raised have been used to hire top engineering talent for additional development, expand client relationships and sales, and uphold the toughest security, risk, and compliance standards across product lines, procedures, and organizations.