Deutsche Bank-backed Taurus and Chainlink team up to accelerate tokenized asset adoption

Taurus SA, a significant supplier of digital asset infrastructure for main monetary establishments akin to Deutsche Financial institution, is partnering with Chainlink Labs, a outstanding developer of important tokenized asset infrastructure, to speed up institutional adoption of tokenized belongings.

.@taurus_hq – a number one digital asset and tokenization platform spanning issuance, custody and buying and selling – absolutely integrates the #Chainlink platform for information and cross-chain.

The collaboration helps drive the adoption of institutional tokenized belongings.https://t.co/zmiY8Uzn9A pic.twitter.com/GAhN1GUKQB

— Chainlink (@chainlink) October 2, 2024

The collaboration focuses on addressing safety, information and asset mobility challenges throughout the tokenized asset sector, the businesses mentioned. Taurus will use the Chainlink platform to enhance the safety, transparency and interoperability of tokenized belongings.

Taurus will combine Chainlink’s Information Feeds and Proof of Reserve to offer high-quality off-chain information for tokenized belongings, together with market costs, reference information and id information. This may make sure that tokenized belongings are backed by correct and dependable info, decreasing dangers for traders. Moreover, Chainlink Proof of Reserve will assist stop over-issuance and enhance transparency of asset reserves.

The collaboration additionally consists of using Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which Taurus examined earlier this 12 months, to allow seamless asset transfers between totally different blockchains.

“Leveraging Chainlink’s industry-leading infrastructure, we will present our institutional shoppers with unparalleled liquidity and information integrity for his or her tokenized belongings,” mentioned Juergen Hofbauer, World Head of Strategic Partnerships at Taurus. “This partnership aligns completely with our mission to offer probably the most superior and safe digital asset infrastructure available on the market.”

Angie Walker, World Head of Banking and Capital Markets at Chainlink Labs, believes the partnership will encourage extra conventional monetary establishments to undertake tokenized belongings, increasing their attain and affect out there.

“Taurus’ integration of the Chainlink platform demonstrates the rising demand for safe information and cross-chain infrastructure within the tokenized asset financial system,” mentioned Walker. “This collaboration will assist drive the adoption of tokenized belongings amongst main monetary establishments, additional strengthening the function of blockchain know-how in reshaping international capital markets.”

Main monetary establishments, together with State Road, are actively pursuing the event and use of blockchain networks for tokenizing real-world belongings. Final month, State Road partnered with Taurus to supply enhanced crypto custody and tokenization companies to institutional traders, leveraging Taurus’ digital asset options.