December 18, 2024—Taurus, the global leader in digital asset infrastructure for banks, has expanded its collaboration with Temenos, the global leader in banking software, by fully integrating Taurus-PROTECT, Taurus’ custody solution, with Temenos core banking. The integration allows banks to create and manage wallets as well as transfer a wide range of digital assets directly from Temenos Core. Taurus is the first fully integrated digital asset custody platform with Temenos.
Surging demand driven by an increasingly clear regulatory framework
Digital asset demand reached an all-time high globally in 2024, with regulation clarifying in most key financial centers. The market entry of many of the largest global custodians and asset managers in the world, some of which leverage Taurus’ award-winning technology, further highlights the increasing institutionalization of the digital asset industry. In particular, the total market value of tokenized assets is expected to exceed decatrillion USD by 2030, according to consulting firms.
The integration of Taurus-PROTECT with Temenos Core comes at the right moment and will allow banks using Temenos Core to rapidly launch digital asset services.
The Temenos Core and Taurus-PROTECT custody integration allows Temenos’ clients to perform all digital asset custody operations directly from Core
The Temenos Core and Taurus-PROTECT custody integration allows Temenos’ banking clients to pilot their custody operations directly through Core for all types of digital assets, including cryptocurrencies and tokenized assets on public or private DLTs. In addition, all custody, transfer, and booking interfaces within Core have been integrated.
- Custody integrated with Temenos Core: One-click wallet and addresses creation automatically allow for the seamless integration of wallets into client TradFi accounts and portfolios;
- Automated transfers: Fully automated deposit, transfer, and withdrawal processes, permit banks to drastically reduce manual interventions and operational risk;
- Real-time booking: Transactions involving digital assets are booked directly in the Temenos core banking system, ensuring real-time booking and reconciliation alongside traditional asset transactions;
- Seamless integration of tokenized assets: One-click creation of tokenized assets has been embedded as part of the banks’ existing securities’ creation processes, which also drastically reduce manual interventions and operational risk;
- Regulatory reporting: Seamless integration of regulatory reporting requirements for digital assets.
Immediate benefits for banks
The Temenos Core and Taurus-PROTECT custody integration allows banks to launch full-scale digital asset services with faster time to market and at a fraction of the costs they would have incurred otherwise.
- Fast time to market: Banks can rapidly launch digital asset services in a matter of days or weeks, minimizing time to market and rapidly generating revenues;
- Fully automated workflows: The automation of core workflows such as tokenized securities creation, wallet management, and settlement leads to lower operating costs and operational risks by reducing manual interventions;
- No integration costs: Through the native Temenos Core and Taurus-PROTECT integration, banks no longer need to build such interfaces, substantially reducing their CAPEX.
"This deep integration with Taurus provides banks with the infrastructure needed to quickly and efficiently launch digital asset services," said Alexandre Duret, Senior Product Director at Temenos. "By providing a fully integrated system, we’re enabling our customers to offer digital assets alongside their traditional services, reducing complexity and lowering the barriers to entry."
Jürgen Hofbauer, Head of Global Strategic Partnerships at Taurus, added: "This level of integration is a game-changer for financial institutions. It empowers banks to manage digital assets just like any other asset, reducing complexity while opening new avenues for growth. We look forward to launching together with Temenos many more features for our common clients."
About Taurus
Founded in 2018, Taurus is a Switzerland-based financial technology company providing enterprise-grade digital asset infrastructure. It offers services for issuing, storing, and trading all types of digital assets, including cryptocurrencies, tokenized assets, NFTs, and digital currencies. Additionally, Taurus operates a marketplace for private assets and tokenized securities and is a securities firm regulated and supervised by FINMA. For more information, visit https://www.taurushq.com/
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