Taurus taps Solana to for custody and tokenization platform

Taurus, a digital asset firm backed by Deutsche Bank, has launched its enterprise-grade custody and tokenization platform, Taurus-CAPITAL, on the Solana blockchain. The move allows banks and financial institutions to store, manage, and issue digital assets on Solana ( SOL ), a blockchain known for fast and low-cost transactions. The platform integrates Taurus-PROTECT for secure storage and staking of Solana-based assets and Taurus-CAPITAL for issuing programmable tokenized assets. Tokenized assets are digital representations of real-world assets like stocks, bonds, or real estate on a blockchain, according to a note shared with crypto.news. Through this platform, institutions can automate financial processes such as payments, dividends, and settlements. You might also like: MasterCard tokenized 30% of transactions in 2024 Cost savings, fast transactions Taurus chose Solana to help clients benefit from fast transactions and cost savings while managing digital assets. The platform’s features include staking, which allows clients to earn rewards by supporting the network, and token extensions, which enable programmable digital assets with custom rules, such as automated interest payments. Last year, Taurus partnered with Chainlink Labs to enhance tokenized asset solutions for financial institutions. The collaboration integrated Chainlink’s Data Feeds, Proof of Reserve, and Cross-Chain Interoperability Protocol to improve security, transparency, and cross-chain asset mobility. The integration of Taurus with Solana marks a step forward in making digital asset management more efficient for large institutions, showing continued interest from banks in blockchain technology for traditional financial services. You might also like: Consensys CEO backs Vitalik Buterin’s ‘make communism great again,’ advocates for ‘purer capitalism’