Swiss infrastructure startup Taurus announced the integration of the Polygon ecosystem to “issue, register and service” tokenized assets. This is reported by Decrypt.
The partnership will also enable the organization’s clients to hold and trade traditional securities, such as equities and bonds, in tokenized form.
“Using digital securities, financial institutions and issuers can make non-traditional assets suitable for banking. Specifically — issuing, transferring and trading securities automatically, using the capabilities of smart contracts,” the company said.
According to a Taurus representative, most Tier 1 financial institutions are already interested in issuing security tokens, aiming for blockchain-agnostic infrastructure.
Colin Butler, head of institutional capital at Polygon, said that turning traditional assets into digital ones is not difficult. In his words, the partnership “will lay the groundwork for robust opportunities in the tokenisation space.”
Taurus added that 70% of its clients, among them Arab Bank Switzerland, Credit Suisse and Deutsche Bank, are already ready to use the new tokenization capabilities.
In March Taurus raised $65 million as part of a Series B round led by Switzerland’s second-largest bank by assets — Credit Suisse.
As Citi analysts project, by 2030 the market capitalization of security tokens will reach $4 trillion.
Moody’s noted the potential for cost savings and greater transparency in their use by municipalities when issuing bonds via blockchain.