As part of the new partnership, Taurus will integrate Elliptic’s leading crypto wallet screening tools into its institutional-grade services, bolstering KYC and AML procedures.
LONDON, GENEVA, 17.10.2023—Taurus SA, a FINMA-regulated custody and tokenization technology provider, and Elliptic, a global leader in cryptoasset risk management, today announce a partnership to provide banking-grade security and compliance to the market.
As part of this collaboration, Taurus will integrate Elliptic’s wallet screening tool into Taurus-PROTECT, the European leading digital asset custody solution for banks and corporates. Merging Elliptic’s crypto screening capabilities with its custody platform will allow Taurus to seamlessly manage anti-money laundering (AML) and fraud risks in full compliance with all applicable laws and regulations.
“Elliptic is one of the leading blockchain analytics providers for banks. We are pleased to integrate Elliptic Lens and compliance solutions to provide greater transparency to our banking and consumer brands clients,” said Juergen Hofbauer, Global Head of Strategic Partnerships at Taurus.
As financial institutions transition to conducting more traditional financial activities on-chain, it is critical that they leverage all the necessary compliance tools and infrastructure to meet regulatory compliance requirements. The integration of Elliptic’s solutions will also make it easier for banks and corporations to perform due diligence on crypto wallets to prevent money laundering, comply with sanctions, and combat fraud—even before transactions are actually executed.
“Taurus is one of the biggest custody platforms in the industry, and Elliptic is proud to be able to support its work with leading financial institutions,” added Jackson Hull, Chief Technology Officer at Elliptic. “This strategic integration means that Taurus can leverage Elliptic’s best-in-class dataset, helping customers automatically detect and remove high-risk transactions on their own terms as they occur.”
Taurus’ clients will now benefit from ultra-secure storage of hundreds of digital assets and tokenized securities, with industry-leading compliance to manage AML and fraud risks.
These enhanced security and compliance tools could help banks and other financial institutions streamline their blockchain-based operations and initiatives to align with all the current compliance requirements. This makes it significantly easier for Taurus’ clients to receive regulatory approval when offering services like crypto custody, tokenized assets, and others.
Just recently, Deutsche Bank announced that it will integrate Taurus’ market-leading technology to offer digital asset custody and tokenization services to its clients. This development comes as the German Federal Financial Supervisory Authority (BaFin) aims to accelerate the pace at which companies can receive licenses to provide crypto custody services, indicating a growing demand for blockchain-based frameworks from institutional entities.
Today, Elliptic covers 99% of cryptoassets by market capitalization and has over 100 billion data points, which provide accurate, actionable insights that its customers can rely on to mitigate risk and be compliant.
Elliptic is the global leader in cryptoasset risk management for crypto businesses, financial institutions, and government agencies worldwide. Recognized as a WEF Technology Pioneer and backed by investors including J.P. Morgan, Wells Fargo Strategic Capital, SBI Group, and Santander Innoventures, Elliptic has assessed risk on transactions worth several trillion dollars, uncovering activities related to money laundering, terrorist fundraising, fraud, and other financial crimes.
Elliptic is headquartered in London with offices in New York, Singapore, and Tokyo. To learn more, visit www.elliptic.co and follow us on LinkedIn and Twitter.
About Taurus SA
Taurus SA is a Swiss FinTech, founded in April 2018, that provides enterprise-grade digital asset infrastructure to issue, custody, and trade any digital assets, including cryptocurrencies, tokenized assets, NFTs, and digital currencies. Taurus is a global leader in the banking segment, entrusted by the full spectrum of financial institutions: systemic banks, universal banks, online banks, crypto-banks, private banks, and broker-dealers. Taurus also operates a marketplace for private assets and tokenized securities. Taurus SA is a securities firm supervised and regulated by FINMA. TDX is an organized trading facility operated by Taurus.
About Taurus’ platform and products
Depending on their business model, strategy, and risk tolerance, Taurus' clients can seamlessly manage NFTs, cryptocurrencies, including staking, digitize and tokenize any type of asset on any standard end-to-end, and process digital currencies of their choice. Taurus’ product portfolio is composed of Taurus-PROTECT™, the leading secure storage solution in Europe which is currently used by more than 25 financial institutions and corporations. Taurus-CAPITAL™ allows clients to issue and manage NFTs and tokenized assets on public and private blockchains, as well as interact with any smart contract. The regulated marketplace for digital assets, TDX™, is connected to Taurus-PROTECT™ and Taurus-CAPITAL™. All products leverage Taurus’ blockchain node infrastructure, Taurus-EXPLORER™, which provides a unified API and reliable broadcasting algorithms to interface securely with over 15 blockchain networks. For more information, please visit: https://www.taurushq.com