Banking software company, Temenos, has announced the integration of Taurus SA, the Swiss digital asset and blockchain infrastructure fintech, with Temenos Transact, the next-generation core banking software.
Following a thorough landscape review and evaluation process, Temenos selected Taurus as a partner to deliver simplified access to digital assets for its banking clients.
It comes following Taurus recently receiving 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, commented: “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. 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. Taurus is leading the field in cryptography and blockchain technology. By joining forces, we can help banks to bridge the gap between traditional investments and digital assets.”
The fintech is able to cover cryptocurrencies including Staking and Decentralized Finance (DeFi), any type of tokenised assets on any standard including issuance and full-lifecycle management, and digital currencies – all within the same platform.
Sébastien Dessimoz, Managing Partner at Taurus, added: “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.”