Taurus Partners with Lido for Liquid Staking Integration

Regulated FINMA institutions will be able to offer clients liquid staking services thanks to a partnership between Swiss infrastructure startup Taurus and LSD provider Lido Finance. 

We’re thrilled to announce our strategic partnership with Lido Protocol, bringing custody and staking support for staked Ethereum (stETH) to Taurus-PROTECT! ?https://t.co/nLndZnvfCs@LidoFinance pic.twitter.com/Kc8bbFKlui

— Taurus (@taurus_hq) February 14, 2024

The press release states that stETH aligns with FINMA’s guidance on Ethereum staking.

Taurus collaborates with Deutsche Bank and Santander.

“The goal is to build a bridge between the world of digital assets and TradFi. We see growing demand from our clients for staking services,” commented the organization’s marketing director Victor Busson to CoinDesk.

The publication noted that regulatory uncertainty had previously hindered such collaboration.

The head of the startup’s product department, Vasily Lavrov, anticipates that similar staking guidance will follow in the EU after FINMA’s lead.

In January 2024, Taurus received FINMA approval to launch the TDX platform for tokenized securities and digital assets, focusing on retail clients.

In February 2023, the startup raised $65 million in a Series B funding round led by Credit Suisse.

Recently, FalconX’s head of research, David Lowant, explained the increased interest in Ethereum staking as optimism grows regarding the potential for Ethereum ETF issuers to allocate some coins to these services if the product is approved.

Proposals for launching a spot exchange-traded fund based on the second-largest cryptocurrency by market capitalization have been submitted by Franklin Templeton, Grayscale, BlackRock, and Invesco with Galaxy.

Some experts believe that the regulator will approve the products in May. Grayscale suggested a positive decision could come in the summer.

However, several analysts doubt the swift approval of spot ETH ETFs for various reasons.