Deutsche Bank-backed Taurus expands digital asset custody, tokenization offerings to Solana

Taurus, the digital asset infrastructure provider to financial institutions such as Deutsche Bank, Credit Suisse and Santander, has expanded to Solana.

The Swiss fintech firm’s digital asset custody platform “Taurus-PROTECT” and its digital issuance and tokenization platform, “Taurus-CAPITAL,” are available on the high throughput and low latency blockchain from Thursday.

The integration allows banks and issuers to securely custody and stake any Solana-native tokenized assets and issue programmable tokenized assets on Solana using token extensions, according to a statement shared with The Block.

Taurus said the speed, scalability and low fees of the Solana network make it ideal for tokenized asset issuance and management, with programmable features allowing for customizable, secure and highly efficient solutions tailored to the needs of institutional clients.

“Integrating with Solana marks a significant milestone for Taurus, as the blockchain’s scalability and cost-efficiency are unparalleled in the industry,” Taurus Head of Global Strategic Partnerships Jürgen Hofbauer said. “With this integration, our banking and enterprise clients can access an advanced platform to tokenize assets like equity, debt, structured products, funds, tokenized deposits and CBDCs, while minimizing costs and operational complexities.”

Taurus currently supports more than 20 public and permissioned blockchains via its digital asset custody product. Its tokenization service supported Ethereum, Tezos and Stellar prior to today’s announcement.

It’s not the only firm expanding to Solana for tokenization purposes, with asset manager Franklin Templeton announcing the extension of its onchain U.S. Government Money Fund to Solana on Wednesday.

Taurus raised a $65 million Series B funding round in 2023 led by Credit Suisse, with Deutsche Bank and Cedar Mundi Ventures participating.