To enable banks and financial institutions to safeguard their digital assets while maintaining full sovereignty over their operations, Taurus, the European digital asset infrastructure provider for banks, has launched Taurus-NETWORK (TN).
This new solution will connect Taurus-PROTECT clients to enhance collaboration with industry participants that are looking to rapidly adopt digital assets. Taurus-NETWORK creates a connected ecosystem of primarily regulated institutions that radically streamlines operations and enhances collaboration between members. It’s built-in collateral management system minimises counterparty risk, making cross-institutional interactions more secure and efficient than other alternatives.
Vassili Lavrov, head of product infrastructure, said: “We have been building Taurus-NETWORK step by step, and I wanted to thank our engineers for their hard work and our clients for their regular feedback. Network participants retain control of their assets and never rely on Taurus to enter or unwind transactions. Taurus-NETWORK creates an ecosystem covering public and permissioned DLTs, as well as all types of assets whether cryptocurrencies, tokenised securities, and digital currencies”.
Client benefits
The Taurus-NETWORK ecosystem will have a multitude of benefits for Taurus’ clients, with the main five being:
Access to the largest interbank digital asset network
Banking-grade collateral management
Real-time settlement
Embedded compliance
Automation of operations and interactions
New standard in security and counterparty risk management
With a focus on regulated and financial institutions, participants will have access to more than 35 banking institutions (at the time of writing) covering four continents and 10 countries, all digital assets ready. TN allows ecosystem participants to select the jurisdictions they want to do business with, offering flexibility and control over their counterparties. This ensures that participants and financial institutions can align their activities with their own specific regulatory requirements and strategic objectives.
TN also introduces a collateral management platform, leveraging Taurus’ roots in banking and feedback from sophisticated financial institutions. As part of the TN collateral management platform, participants can pledge funds or assets for instant credit to other participants. Banks can use their balance sheet to participate in syndicated loans originated by other members of the network, secured by the TN collateral management platform. Exchanges can implement seamlessly ‘off-exchange trading’ processes with the counterparty and risk limits of their choice without moving funds from Taurus-PROTECT.
From a real-time settlement perspective, TN optimises the speed of settlement across on-chain and fiat railways while minimising settlement risks through an advanced orchestration engine. Furthermore, looking at embedded compliance, travel rule compliance and proof of reserves are embedded by design. TN reduces necessary manual compliance work to zero, automatically and cryptographically embedding things like proof of ownership controls or cumbersome Satoshi tests into the system.
On the topic of automation, TN also reduces the operational burden of transaction management, such as identity management and whitelisting processes, by over 90 per cent. TN allows network participants to have an irrevocable proof of identity as well as exchange and verify digital asset addresses automatically. Instant transfer confirmation is also possible.
TN also sets a new standard in security and counterparty risk management. Its participants interact directly and electronically with each other through their Taurus-PROTECT custody instance, regardless of their setup (on-premises, hybrid, or SaaS). TN participants can pledge collateral bilaterally without intervention from a third party, including Taurus.
Early participants revealed, as more financial institutions set to join
Taurus-NETWORK launches with the participation of Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote. Additional major financial institutions are expected to join in the first semester of 2025. Sharing their excitement about the projects representatives said:
Bank of Switzerland
Rani Jabban, managing director and ExCo member at Arab Bank Switzerland
“Joining Taurus-NETWORK aligns perfectly with our commitment to innovation and operational excellence in the digital asset space. It empowers us to securely collaborate with other leading financial institutions while retaining full control over our operations. Taurus-NETWORK sets a new standard for efficiency and trust in the industry, and we’re excited to be part of it,” said Rani Jabban, managing director and ExCo member at Arab Bank Switzerland.
Union Bank
Patrick Zbinden, CEO at Capital Union Bank
“We are excited to combine the capabilities of CUBNET, Taurus-PROTECT and Taurus-NETWORK to deliver a market-leading solution for the seamless settlement of digital assets amongst institutional players,” Patrick Zbinden, CEO at Capital Union Bank, commented.
Flowdesk
Thomas Jeulin, head of sales EMEA of Flowdesk
Thomas Jeulin, head of sales EMEA of Flowdesk, said: “Joining Taurus-NETWORK is a natural step for us as digital assets and traditional finance continue to converge. Providing liquidity to the largest financial institutions while unlocking new use cases in collateral management and derivatives aligns perfectly with our mission.”
Misyon Bank
Dr. Önder Halisdemir, CEO of Misyon Bank
“As the first neobank of Türkiye, which is among the largest crypto markets in the world, joining Taurus-NETWORK alongside leading global financial institutions is a major step forward for us, expanding our tokenization and custody solutions to global networks through top-tier partners in the ecosystem. We are eager to continue growing together,” said Dr. Önder Halisdemir, CEO of Misyon Bank.
Swissquote
Nestor Verrier, chief operating officer at Swissquote
“We are pleased to join Taurus-NETWORK. As COO, I recognise the value of technology in enabling collaboration, enhancing competitive advantage, and unlocking new business opportunities for our clients. Taurus-NETWORK fosters seamless interaction among members and builds a trusted ecosystem for digital asset activities, which continue to evolve rapidly and drive sustained growth. Leveraging the latest market innovations is essential for scaling, automating, and optimising our operations, ensuring long-term resilience and future-proofing our business through technology-enabled strategies,” Nestor Verrier, chief operating officer at Swissquote, commented.
ISP Group
Roy Tal, the chairman of ISP Group
Roy Tal, the chairman of ISP Group, said: “Taurus-NETWORK is addressing one of the biggest challenges in digital asset markets—counterparty risk. We are proud to be part of the network, providing our clients with a seamless, secure, and transparent way to manage their liquidity and collateral.”
Reshaping the digital assets industry relationship with traditional participants
“Taurus-NETWORK is a pivotal milestone in Taurus’ mission to reshape the digital asset industry,” said Yann Isola, head of product financial services. “By bringing together institutions and facilitating secure, efficient, and automated operations, we are unlocking new opportunities for growth and innovation. This is just the beginning as we are planning to release innovative solutions on a regular basis.”
The network leverages Taurus’ robust relationships with global banks and market makers to create an ecosystem where regulated financial institutions retain control over their assets, while interacting electronically directly with each other. The current announcement highlights some features and participants included at the launch of Taurus-NETWORK.
The post Connecting Banks to the World of Digital Assets: Taurus Launches Taurus-NETWORK appeared first on The Fintech Times.
