Geneva-based digital infrastructure provider Taurus has launched a network aimed at enhancing collaboration among financial institutions, lining up major Swiss banks as its first participants.
Taurus-NETWORK connects members using Taurus-PROTECT, a secure custody solution for digital assets, creating a streamlined ecosystem for regulated institutions.
The network launches with the participation of domestic industry leaders, including Arab Bank Switzerland, Capital Union Bank, Flowdesk, ISP Group, Misyon Bank, and Swissquote. Additional major financial institutions are expected to join in the first semester of 2025.
It aims to create a connected ecosystem of primarily regulated institutions to streamline operations and enhance collaboration between members. A built-in collateral management system minimises counterparty risk, making cross-institutional interactions more secure and efficient than other alternatives.
Vassili Lavrov, head of product infrastructure at Taurus, thanked clients for regular feedback when building the new launch through an iterative process.
“Network participants retain control of their assets and never rely on Taurus to enter or unwind transactions,” he said. “Taurus-NETWORK creates an ecosystem covering public and permissioned DLTs, as well as all types of assets whether cryptocurrencies, tokenised securities, and digital currencies.”
Through the network, Taurus and the associated members aim to unlock new use cases such as collateralised lending, streamline on-chain operational processes, and strengthen regulatory compliance, with significant implications for capital and liquidity management, the company said.
Rani Jabban, managing director and ExCo member at Arab Bank Switzerland, said: “[Joining the network} empowers us to securely collaborate with other leading financial institutions while retaining full control over our operations. Taurus-NETWORK sets a new standard for efficiency and trust in the industry, and we’re excited to be part of it.”
