Banking software company Temenos has joined forces with Taurus, the Swiss digital asset and blockchain infrastructure fintech, to help banks bridge the gap between traditional investments and digital assets.
Taurus’ technology, which can integrate and manage any digital asset through its full suite of products, is now available to Temenos’ clients through Temenos MarketPlace.
The collaboration between Temenos and Taurus allows banks to provide custody to a range of digital assets and also create tokenised products of their choice.
Depending on their business model and regulatory framework, banks will be able to create, manage and service tokenised assets leveraging Taurus-CAPITAL and Taurus-PROTECT functionalities.
Following a thorough landscape review and evaluation process, Temenos says it selected Taurus as a partner because it wanted to deliver simplified access to digital assets for its banking clients.
Taurus recently received a securities firm license from the Swiss Financial Market Supervisory Authority (FINMA) to operate the first independent regulated marketplace for digital assets in the world.
Alexandre Duret, product director at Temenos, says: “We believe that digital assets represent new opportunities for banks and wealth managers. Investors are increasingly aware of the performance of cryptocurrencies, which can effectively participate in the diversification of a portfolio.”
Duret continues: “But other applications of blockchain technology, such as tokenised securities have the potential to transform the value chain with simpler issuance procedures, greater liquidity and real-time settlement.”
Sébastien Dessimoz, managing partner at Taurus, explains: “Digital assets represent a major shift in the industry and we see an acceleration in demand since 2020. We are pleased to collaborate with Temenos, the world-leading banking software, and be able to make available our technology to Temenos’ client base of more than 3,000 banks and financial institutions worldwide.”
“Taurus end-to-end platform will allow Temenos clients to manage any digital asset and create products in a couple of clicks,” Dessimoz adds.
Last week, Temenos gained a new mandate from Curo Fund Services, South Africa’s largest third-party administrator.
Go to page 16 of the most recent edition of Asset Servicing Times to read more about digital assets. Further information can also be found in the
