Taurus, a company specialized in blockchain and digital assets has announced the expansion of its digital asset custody and issuance services to the Stellar Network, a significant development in the digital finance landscape. As reported by The Block, Taurus’s digital asset custody platform, Taurus-PROTECT, and its digital issuance and tokenization platform, Taurus-CAPITAL, are now available on Stellar’s open-sourced public blockchain.
Benefits of Taurus Expansion
The integration into Stellar’s ecosystem is a strategic move for Taurus, aimed at broadening its reach and enhancing its service offerings. Stellar’s blockchain is well-regarded for its ability to facilitate cross-border transactions and focus on financial inclusion. Taurus can offer its clients access to a global and inclusive financial infrastructure by tapping into Stellar’s network.
Likewise, the collaboration with Stellar is expected to bring more efficiency, security, and accessibility to Taurus’s digital asset custody and issuance services. Also, it will enable banks and issuers to issue and manage tokenized assets on the Stellar network.
This expansion underscores the growing importance of blockchain technology in the financial sector and reflects Taurus’s commitment to leveraging leading-edge technology to provide superior digital asset services. As Taurus continues to innovate and expand its offerings, its integration with the Stellar Network marks a significant milestone in its growth trajectory.
Circle Launches its Stablecoin on Stellar Network
Meanwhile, Taurus is not the only firm utilizing Stellar for real-world asset tokenization. In 2023, stablecoin issuer Circle announced that its Euro-backed stablecoin, EURC, is now available on the Stellar network.
In a statement, Circle highlighted that the EURC, similar to its USD counterpart USDC, brings stability and liquidity to the Stellar blockchain while offering users the seamless experience of transacting in Euro. Also, EURC on Stellar holds the potential to expand the scope and options for existing Stellar products and solutions catering to euro-based customers, communities, and users.
Taurus Continues in its Quest to go Global
Recall that in 2023, the Swiss crypto firm raised $65 million to develop its platform and its ideas of going global. Credit Suisse led the Series B funding round. Other institutional investors that participated were Deutsche Bank, Pictet Group, Cedar Mundi Ventures, and others.
The funds were used to empower Taurus’ strategic plan of hiring top engineering talent for additional development and expanding client relationships and sales.
Also, the funds were used to uphold the toughest security, risk, and compliance standards across product lines, procedures, and organizations. Meanwhile, the Swiss Financial Market Supervisory Authority (FINMA), a government body in charge of monetary regulations, approved the transaction.
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