Taurus supported by Credit Suisse and Deutsche Bank, compatible with polygons ── focus on security tokens | coindesk JAPAN | Coindesk Japan

Taurus, a Swiss digital asset infrastructure company that provides custody, tokenization, and trading of digital assets, is attracting attention among financial institutions and large corporations for its tokenization of real assets (RWA), including security tokens (digital securities). While gathering, they announced that they had completed support for Polygon, the scaling network of the Ethereum blockchain.

Staking and DeFi (decentralized finance) on Polygon are now possible, the company said on June 2. The company raised $65 million in a round led by Credit Suisse and Deutsche Bank in February.

Tokenization is believed to attract mainstream financial institutions to the blockchain industry. Tyrone Lobban, head of JP Morgan’s digital asset platform Onyx, called tokenization a “killer app” for traditional finance in April.

Related article: Tokenization is traditional finance’s ‘killer app’: JPMorgan

In November of last year, JP Morgan executed a trade with the Yen and Singapore Dollar tokenized on Polygon. In April of this year, Bank of America released a report stating that the tokenized gold market exceeded $1 billion.

Related Article: Tokenized Gold Market Cap Exceeds $1 Billion

“Most of the major financial institutions have entered this space and are building capabilities to manage tokenized securities. They all want infrastructure that is not limited to blockchains and is not limited to tokens,” Taurus said. said in an email.

The Layer 2 blockchain Polygon is designed to process transactions faster and at a lower cost than the Ethereum blockchain. Polygon also aims to go beyond Ethereum and become the “Internet of Blockchains”, connecting all Ethereum-compatible networks, while continuing to reduce and speed up transaction costs.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Taurus website (capture)
｜Original: Credit Suisse, Deutsche Bank-Backed Taurus Deploys on Polygon Blockchain