Swiss-based fintech Taurus has expanded its collaboration with core banking vendor Temenos to help banks quickly deploy full-scale digital asset services.
This partnership marks the first integration of Taurus’ Taurus-PROTECT custody solution into the Temenos Core banking platform, enabling banks to manage digital assets directly within their core banking systems.
With global demand for digital assets reaching new heights, clearer regulatory frameworks and the entry of major global custodians and asset managers drive projections that the market value for tokenised assets could hit trillions by 2030.
The integration between Taurus-PROTECT and Temenos Core enables financial institutions to create and manage digital wallets, execute transfers and handle a variety of digital assets, including cryptocurrencies and tokenised assets on both public and private distributed ledger technologies (DLTs).
Key features such as one-click wallet creation, automated transfers and real-time booking aim to minimise manual efforts and reduce operational risks.
Practical benefits
“This deep integration with Taurus provides banks with the infrastructure needed to quickly and efficiently launch digital asset services,” said 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.”
Jürgen Hofbauer, head of global strategic partnerships at Taurus, also commented: “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.”
This integrated approach enables banks to quickly enter the digital asset market, potentially leading to cost savings by eliminating the need for additional interfaces and reducing dependence on external systems. This advantage is key to institutions looking to expand their digital offerings and tap into the digital asset landscape.
In 2021, Temenos also partnered with Taurus to integrate its digital asset platform into Temenos Transact, enabling banks to manage cryptocurrencies, tokenised assets, and digital currencies seamlessly. Through the Temenos MarketPlace, Taurus provided tools for custody, tokenisation and blockchain connectivity, helping banks innovate in digital asset services
Temenos also recently announced that it has been named a ‘leader’ in The Forrester Wave: Digital Banking Processing Platforms, Q4 2024 – a guide for buyers considering their purchasing options in a technology marketplace.
