The Hashgraph Association, a non-profit organization based in Switzerland, has partnered with Taurus, a Swiss-based digital asset infrastructure provider. This partnership aims to improve the custody, staking, and tokenization of Hedera’s HBAR cryptocurrency and other assets. Together, they want to make it easier for banks and financial institutions worldwide, especially in Europe, Asia, the Middle East, and Africa (EMEA), to access the Hedera ecosystem. Hashgraph Plans to Improve Hedera’s HBAR Network The partnership also aims to provide high-quality solutions for Hedera’s decentralized network. Working with Taurus will help financial institutions digitize traditional products and use blockchain technology for various purposes, such as cross-border payments and asset management. Meanwhile, Kamal Youssefi, president of the Hashgraph Association, highlighted the importance of this partnership in building trust among institutions in the Hedera ecosystem. This partnership mainly focuses on the EMEA regions, where the regulatory environment becomes more supportive of digital assets. Europe, in particular, has made important progress in creating clear rules for blockchain and cryptocurrency businesses. State Street Offers Tokenization Services In August 2024, State Street partnered with Taurus to advance its cryptocurrency custody and tokenization capabilities. The tokenization process involves converting physical or traditional financial assets into digital tokens that can be traded and managed on blockchain platforms. While the bank is moving forward with tokenization, its digital asset custody services remain on hold pending favorable regulatory development in the United States. Specifically, State Street has been a prominent critic of the SEC’s Staff Accounting Bulletin (SAB) 121, which imposes stringent capital requirements on banks seeking to hold cryptocurrency. Under SAB 121, institutions must maintain substantial capital reserves to account for the perceived risks of holding digital assets. This regulation has created challenges for financial institutions, deterring them from entering the crypto custody market. As such, State Street called for a revision of SAB 121, arguing that the rule burdens banks and stifles innovation in the digital assets space. The US vs EU: A Competitive Shift? While Europe tightens its grip , the US is poised to take a different approach under the incoming leadership of President-elect Donald Trump. Trump’s crypto-friendly policies could attract more digital asset investors to the US, boosting the market. However, this comes after a tumultuous period in the US where the Securities and Exchange Commission (SEC) regulatory crackdowns created uncertainty. Speculatively, the shift in regulatory priorities could make Europe less attractive to crypto investors, just as North America experiences a resurgence. Despite the regulatory challenges, Europe’s crypto landscape is not without its promising signs. The post Hashgraph Association Partners With Taurus to Enhance HBAR appeared first on TheCoinrise.com .
