Taurus and Parafin Partner to Boost Crypto Adoption in Europe and Latin America

Taurus and Parafin, two leading fintech companies, have formed a strategic partnership to deliver blockchain infrastructure to financial institutions in Europe and Latin America. This collaboration is aimed at accelerating the adoption of crypto custody and settlement services across both regions. As part of the partnership, Taurus has integrated its product suite into Parafin’s institutional platform, creating an end-to-end solution for digital asset management. This solution includes custody, governance, and compliant token issuance, as announced by the companies on May 27.

Financial institutions utilizing the integrated Taurus-Parafin solution will gain access to a range of services, including custody and tokenization services, real-time wallet execution, and a full range of trading capabilities. Taurus, known for its enterprise digital asset custody and tokenization solutions, enables businesses to issue, store, and trade various crypto products. Parafin, while not a blockchain-native company, offers financial infrastructure and merchant services for small businesses. In December, Parafin was valued at $750 million following a $100 million late-stage funding round.

This partnership is particularly significant for Taurus, as it provides deeper inroads into Latin America, a region known for its heightened crypto adoption. The collaboration comes at a time when institutional interest in Bitcoin and other cryptocurrencies is growing. Positive regulatory developments in the US and globally have spurred broader adoption of digital assets. Banks are increasingly offering custody services for digital assets, and some institutions now facilitate crypto trading and investment. Several large banks, including JPMorgan, have also experimented with blockchain technology.

A significant turning point came in April when the US Federal Reserve eased restrictions on financial institutions engaging in cryptocurrency activities. This move was hailed as a major milestone for banks looking to support digital assets. The partnership between Taurus and Parafin is expected to provide a seamless experience for financial institutions looking to enter the crypto market, offering them the necessary tools and support to navigate the complexities of blockchain technology. By leveraging their combined strengths, Taurus and Parafin are well-positioned to meet the evolving needs of the financial sector and drive innovation in the crypto space.