Deutsche Bank Subsidiary Partners with Unexpected Altcoin in Surprise Collaboration
In a surprising move, a subsidiary of Deutsche Bank has announced its collaboration with an altcoin network, revealing its support for the cryptocurrency.
Taurus, a prominent digital asset infrastructure provider with backing from Deutsche Bank, has disclosed its expansion into the Stellar (XLM) network. This Swiss fintech company is renowned for its services to major financial institutions like Deutsche Bank, Credit Suisse, and Santander.
As of Monday, Taurus will offer its digital asset custody platform Taurus-PROTECT and digital issuance and tokenization platform Taurus-CAPITAL on Stellar’s open-source, public blockchain. This integration enables banks and issuers to issue and manage tokenized assets on the Stellar network, with the capability to customize and automate payment flows using programmable wallet features and banking-grade access controls.
Jürgen Hofbauer, Taurus’s Head of Global Strategic Partnerships, emphasized the seamless alignment of the integration with Stellar with Taurus’s strategic growth in asset tokenization. He highlighted the benefits for banking and non-banking customers, such as reduced fees and faster transactions, optimizing efficiency across various tokenization use cases like equity, debt, structured products, funds, tokenized deposits, and CBDCs.
Prior to this announcement, Taurus’s tokenization service supported Ethereum and Tezos, showcasing its commitment to facilitating a diverse range of cryptocurrencies for its users.
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