Digital asset infrastructure provider Taurus is boosting its tokenization efforts in Europe with a full integration with the Polygon blockchain, the company announced on June 2.
The move will allow its clients to automatically issue digital securities. Taurus claims more than 25 clients in nine countries, including Swiss Arab Bank, CACEIS Bank, Crédit Agricole, Credit Suisse, Deutsche Bank, Pictet, Swissquote and Vont obel. A Taurus spokesperson told Cointelegraph that debt, funds, and structured products are the most popular tokenized assets, although demand varies based on local regulations. Choosing Polygon was “a natural choice to benefit from the Ethereum network,” it continued.
“The tokenization of real-world assets is at the root of the idea. The challenge has always been building the infrastructure advanced enough to make it happen,” said Colin Butler, global head of institutional capital at Polygon Labs, in a statement. The process of tokenization involves converting something tangible or intangible into digital tokens. Tangible assets such as real estate, stocks or art can be tokenized. It is also possible to tokenize intangible assets such as loyalty points and voting rights. Asset tokenization is one of the trends driving the convergence of traditional finance and Web3 solutions in Europe. The Bank of England is exploring the ways in which tokenized assets can interact with bank money, non-bank money and central bank money, according to comments from BoE Deputy Governor Jon Cunliffe in F ebruary .It is also possible that tokenized transactions will be synchronized with the BoE's real-time payments system in the near future, Cunliffe said. In Germany, banks are slowly adopting crypto solutions, mainly through tokenization-related products and services for instigating tutional investors.
Taurus secured a $65 million Series B fund led by Credit Suisse in February and was joined by several other institutional investors, including Deutsche Bank, Pictet Group, Cedar Mundi Ventures, Arab Bank Switzerland and Investis. At the time, the company said the f unding would be used for its growth strategy in three main areas: hiring engineering talent, safety and compliance, and expanding sales in Europe, the United Arab Emirates, the Americas and Southeast Asia.
