Digital asset infrastructure firm Taurus has fully integrated with fellow Swiss vendor Temenos, enabling banks to create and manage crypto wallets as well as transfer a wide range of digital assets directly from within their installed core banking software.
Founded in 2018, Taurus provides enterprise-grade digital asset infrastructure to issue, custody, and trade digital assets, such as cryptocurrencies, tokenized assets, NFTs, and digital currencies.
The firm has already won the backing and support of a host of financial instiutions, including Detusche Bank, Caceis, Credit Suisse Pictet, State Street and Arab Bank Switzerland.
The integration with Temenos now puts the technology within reach of many more financial institutions. It will alow banks to launch full-scale digital asset services with faster time to market - "days or weeks" say the vendors - and at a fraction of the costs they would have incurred otherwise.
"This deep integration with Taurus provides banks with the infrastructure needed to quickly and efficiently launch digital asset services," says Alexandre Duret, senior product director at Temenos. "By providing a fully integrated system, we’re enabling our customers to offer digital assets alongside their traditional services, reducing complexity and lowering the barriers to entry."
Temenos clients will be able to pilot their custody operations directly through their core for all types of digital assets including cryptocurrencies and tokenized assets on public or private DLTs. In addition, all core custody, transfer, and booking interfaces have been integrated.
The interface additionally incorporates one-click wallet and addresses creation and fully automated deposit, transfer, and withdrawal processes
Transactions involving digital assets are booked directly in the Temenos core banking system, ensuring real-time booking and reconciliation alongside traditional asset transactions.
Jürgen Hofbauer, head of global strategic partnerships at Taurus, added: "This level of integration is a game-changer for financial institutions. It empowers banks to manage digital assets just like any other asset, reducing complexity while opening new avenues for growth. We look forward to launching together with Temenos many more features for our common clients."