Deutsche Bank, Germany’s largest financial institution, has partnered with Swiss crypto company Taurus and launched a Solana-based TDX marketplace.
The platform is licensed to hold, manage, and stake cryptocurrencies as well as tokenized financial assets for banks, financial institutions, and enterprises. Deutsche Bank’s alliance with Taurus was part of a $65 million Series B funding round, to which key players such as Credit Suisse, Arab Bank Switzerland, and Pictet Group contributed significantly.
Taurus integrates Solana for RWA tokenization
Jurgen Hofbauer, head of global strategic partnerships at Taurus, noted that the integration between Taurus and Solana stemmed from the demand for real-world asset (RWA) tokenization solutions.
He said that the partnership would allow banking and enterprise clients to tokenize their assets, such as equity, debt, funds, CBDCs, structured products, and tokenized deposits at lower costs and simpler processes.
Taurus provides enterprise-grade infrastructure to issue cryptocurrency, manage custody, and trade tokenized assets, cryptos, and NFTs. Deutsche Bank has shown interest in crypto for years, and in June 2023, they took a bold step by applying for a digital asset custody license from Germany’s financial regulatory body, BaFin.
Alongside institutional clients, retail users can create an account with Taurus and actively participate in capital raises. They can also securely trade digital assets and tokenized securities in compliance with company regulations.
Taurus stated that companies can now access primary and secondary markets that serve both retail and professional investors and improve the liquidity of their digital securities. They can also develop their very own trading segments and custom liquidity through auction-based trading.
Taurus entices new issuers searching for a trading venue
Taurus released a list of new issuers opting for its service as a preferred platform for trading their digital securities. Some popular names include Investis Group, Qoqa, Teylor, Swissroc, la Mobiliere, and SCCF.
TDX Head of Product Yann Isola said that Taurus thinks that private markets 2.0 will be digitalized, making a huge difference in buying private security. He is sure that his assumptions are correct, as the demand for real-world asset (RWA) tokenization is also the fastest-growing market for digital assets.
Meanwhile, Solana has been gaining momentum in the RWA sector, attracting high-profile institutions that are looking to bring traditional financial products on-chain.
Franklin Templeton, a leading global asset manager, brought its $594 million Government Money Market Fund (FOBXX) to Solana just yesterday.
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