BankPozitif & Taurus: Pioneering Crypto Custody in Turkey

BankPozitif, a leading digital bank in Turkey, has partnered with Swiss digital asset infrastructure company Taurus to expand its cryptocurrency services in the region. The collaboration will enable BankPozitif to offer institutional-grade cryptocurrency custody solutions, further solidifying its position as a trailblazer in Turkey's burgeoning fintech sector.

Through this partnership, BankPozitif will integrate Taurus-PROTECT™, a custody solution that provides secure support for cryptocurrencies, tokenized assets, and digital currencies. Additionally, it will deploy Taurus-EXPLORER™, a blockchain node and indexing solution that offers access to multiple blockchain networks.

Dr. Erkan Kork, Chairman at BankPozitif, expressed his enthusiasm about the partnership: "Where we're relying on new products and digitalization, this partnership with Taurus represents a significant step forward. The Turkish banking sector has grown to 30 trillion liras, and institutional demand for digital asset services continues to rise."

Taurus, for its part, has been actively expanding its global reach. Recently, it collaborated with Chainlink Labs to accelerate tokenized asset adoption. The collaboration introduced Chainlink Data Feeds for real-time asset data and Proof of Reserve for greater transparency, addressing security and cross-chain connectivity challenges.

With existing partnerships with prominent financial institutions like Deutsche Bank and State Street, Taurus views Turkey as a strategic market. Lamine Brahimi, Managing Partner at Taurus, commented: "High adoption rates, growing institutional demand, and favorable regulatory conditions make Türkiye an exciting place for digital asset banking."

Turkey has also witnessed a surge in cryptocurrency adoption due to economic conditions and concerns regarding inflation. As regulatory structures evolve, the alliance of BankPozitif and Taurus signals a broader trend of legacy banks incorporating digital asset services to meet market demand. This alliance not only fortifies Turkey's digital banking environment but also indicates growing institutional confidence in the country's crypto market.