Taurus Launches Interbank Network for Digital Asset Transactions

Swiss cryptocurrency fintech Taurus has launched an interbank network designed to simplify and improve digital asset transactions between regulated financial institutions worldwide. The network, Taurus-Network (TN), aims to enhance collateral mobility, optimize settlement speed, and reduce counterparty risk while benefiting capital and liquidity management in digital assets.

One of the key benefits of the network is the ability for participants to retain full sovereignty over assets, direct interaction with counterparties, and automated compliance without third-party intervention. This is according to Vassili Lavrov, Taurus SA’s head of product infrastructure. Multiple banks are already involved in the network, including Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote. These banks have taken meaningful steps to integrate digital asset capabilities within their operations, with most of them already offering custody of cryptocurrencies to their clients.

Taurus-Network is positioned to become the default infrastructure layer for compliant, high-trust digital asset activity by building on Taurus’ relationships with over 35 banking clients across four continents. The network is blockchain-agnostic and supports both public and permissioned distributed ledger technologies. This ensures interoperability across different digital asset types, whether cryptocurrencies, tokenized securities, or digital currencies. The network is designed to interoperate across public and permissioned blockchains, so institutions aren’t locked into one system.

This launch marks a significant step forward in the integration of digital assets into traditional banking systems. By providing a standardized platform that can be adopted by various financial institutions, TN fosters greater interoperability and collaboration within the industry. This could lead to increased liquidity and market efficiency, as well as a more cohesive regulatory environment for digital assets. The development of TN underscores the broader trend of fintech innovation in the digital asset space, offering a solution that meets the stringent requirements of the financial industry.